Skip to: Content
Skip to: Site Navigation
Skip to: Search

October 11, 2008 7:33:59 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Yahoo! CEO Logs Off

Posted Jun 18, 07 4:48 PM CDT in US,  Business 

(Newser) – Yahoo CEO Terry Semel is out. In a surprise announcement, Yahoo said today that co-founder Jerry Yang will take over from Semel as CEO, who will step down immediately. The embattled Semel, who's been the target of recent shareholder ire, will stick around as non-executive chairman; Susan Decker, former head of advertising, is set to become Yahoo's new prez.

Shareholders at last week's annual conference hounded Semel over the company's sluggish growth—and his oversized $70M-plus paycheck—and many industry observers viewed it as a matter of time before the former Hollywood exec stepped down. Say blogger Rafat Ali: "This is a huge surprise, even though we knew it was imminent."

Source San Jose Mercury News

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • How Yahoo Would Improve Microsoft

    Mar 18, 08 6:24 PM CDT
    How Yahoo Would Improve Microsoft Yahoo today restated its opinion that Microsoft’s $44.6 billion buyout bid underestimates the online giant’s “combination of unique assets,” but for the first time stated publicly the strengths it would bring to the Microsoft merger, MarketWatch reports. In an investor presentation for the SEC, the company argued it would take Microsoft "from sub-scale position to strong positions in search and display." More »

  • 1,000 to Lose Jobs as Yahoo Profits Fall 23%

    Jan 30, 08 3:25 AM CST
    1,000 to Lose Jobs as Yahoo Profits Fall 23% After a 23% plummet in fourth quarter profits, Yahoo's CEO said the company will face job cuts and continued "headwinds" in 2008, the Wall Street Journal reports. Facing decreased advertiser spending, the company will lay off 1,000 employees next month, though it will try to relocate some within Yahoo. Such bleak expectations prompted a 10% drop in shares after hours. More »

  • Investors Clash With Yahoo CEO

    Jun 13, 07 10:34 AM CDT
    Investors Clash With Yahoo CEO Investors railed yesterday against Yahoo Inc.'s management team in an unusually rowdy session of the search engine's annual shareholders' meeting. Angry investors interrogated CEO Terry Semel over his $107.5M paycheck and the company's slumping stock price, which fell 9% in the last year. A third of shareholders mutinied in protest, voting against the company's otherwise uncontroversial proposed slate of directors. More »

Yahoo CEO Terry Semel delivers a speech in this file photo, Friday, Jan. 6, 2006 at the International Consumer Electronics Show, CES, in Las Vegas. Semel ended his six-year stint as chief executive officer...   (Associated Press)
P 500 companies to provide a full picture of executives' compensation - including stock options, bonuses and perks such as country club memberships. (AP Photo/Damian Dovarganes, File)   (Associated Press)
The exterior of Yahoo Inc. headquarters in Sunnyvale, Calif., is shown Monday, June 18, 2007. Yahoo Inc. Chairman Terry Semel ended his six-year tenure as chief executive officer Monday and will hand...   (Associated Press)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Related links

Related blog posts

Threads (
1
 of 1)

Tags

Internet  • Yahoo  • Jerry Yang  • shareholders  • search engine  • investors  • Terry Semel  • Susan Decker


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Home Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »