Democratic Underground - Yahoo CEO Steps Down (40 Million Dollar Man)

Yahoo CEO Steps Down (40 Million Dollar Man) [View All]

RamboLiberal

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Mon Jun-18-07 04:55 PM
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Yahoo CEO Steps Down (40 Million Dollar Man)

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Source: ABC News

Terry S. Semel, the CEO of Internet giant Yahoo, stepped down from his post Monday, minutes after the stock market had closed. He will be replaced by Yahoo co-founder and board member Jerry Yang.

"This is the time for new executive leadership, with different skills and strengths, to step in and drive the company to realize its full potential -- it is the right thing to do, and the right time is now," Semel said in a statement.

The move comes after shareholders at Yahoo's annual meeting last week voiced criticism of Semel and the company's direction under his leadership. Yahoo has been lagging behind its chief competitor Google.

The board yesterday also named Susan Decker, the executive vice president in charge of the advertiser and publisher group, as president of the company.

Read more: http://abcnews.go.com/Business/IndustryInfo/story?id=3291234&page=1

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Yahoo CEO Steps Down (40 Million Dollar Man) [View All]