Yang’s departure boon to Yahoo?

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In the after market shares of Yahoo! (NASDAQ: YHOO – News) landed on the trader radar after word hit the Street that former CEO Jerry Yang resigned, suddenly, from his position on the Yahoo! board of directors.

Yang is the controversial figure who spurned a $33 offer from Microsoft in 2008, saying the offer was insufficient. At the time the stock was trading around $14.

Microsoft subsequently walked away from the negotiations and Yahoo! has been in a state of flux, ever since. Although the company later hired Carol Bartz to turn around its fortunes, she was removed from her position this past September, via phone call.

What should you make of these developments?

“Yang’s out – that’s very bullish,” says top trader Guy Adami.