Terry Semel Out As Yahoo Ceo!

Oh thank god they’re doing something. Developing…
Jerry Yang, one of Yahoo’s founders, just announced on the Yahoo blog that he is replacing Terry Semel as CEO of the company, although Semel will be Yahoo’s Chairman, but in a non-executive role. The BBC says Semel resigned today as CEO after six years, and that Susan Decker, head of advertising, will move in as President of Yahoo (previously, Yang was “Chief Yahoo”, presumably making him and co-founder David Filo the President).
Semel’s resignation should please shareholders, many of whom have been calling for his head as profits have fallen and he has pulled in bonuses equal to a quarter of all yearly corporate income. Semel was raking it in as Yahoo faltered, earning close to (or exceeding) a billion dollars in stock grants while his company lost market share and growth to Google, and failed to close deals that many […]

Original post by Nathan Weinberg