Bad things happen when your company is not as innovative as Google
Investors disappointed with Yahoo’s performance vis-a-vis Google over the past 24 months have been clamoring for the scalp of Yahoo! CEO Terry Semel, and now they finally have it:
“Yahoo!, a leading global Internet company, today
announced that the Board of Directors has appointed Jerry Yang, Yahoo!
co-founder and long-time board member, as Chief Executive Officer.
Terry Semel, current Yahoo! Chairman and CEO, will assume the position
of non-executive Chairman and serve as an advisor and important
resource for the company’s senior management team, while also working
closely with the Board. The Board also named Susan Decker, formerly
Executive Vice President and Head of Advertiser and Publisher Group, as
President of the company.
Terry Semel said, “The Board and I
have long talked about the importance of ensuring a smooth succession
in Yahoo!’s senior leadership — and more recently, about the need for
a leadership team committed to carrying Yahoo! through its multi-year
transformation. As we discussed my future goals and plans, I was clear
in telling the Board of my desire to take a step back sooner rather
than later. I believe Jerry and Sue, with their superb talents and
intense dedication to Yahoo! and its people, are the perfect
combination to carry us forward. 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.”
Looks like a fairly graceful exit so far. At the end of the day, though, Terry Semel will be known as The Man Who Took the Exclamation Mark Out of Yahoo. Let’s give the company back to the kids.
[image: Terry Semel, courtesy of Tech Crunch]