Semel Ousted From Top Spot At Yahoo
from the matter-of-time dept
The long simmering shareholder disappointment in Yahoo CEO Terry Semel has finally resulted in his ouster as the company announced that co-founder Jerry Yang would assume the CEO position, relegating Semel to the role of non-executive chairman. Rumors of Semel’s demise have been buzzing loudly over the last few days, following the company’s tempestuous shareholder meeting last week. The return of Yang to the top spot has echoes of Dell and Apple, both of which turned to their founders to revive flagging fortunes. In Apple’s case, the move was an unbridled success, while the fate of Dell remains to be seen. Obviously, Yahoo has been bloodied pretty badly over the last few years, as it’s watched Google assume online prominence. Getting rid of Semel is probably a good first step, since it didn’t seem like he had a coherent turnaround plan (or even a strong understanding of the industry), but it’s going to take a lot more than that to right the ship.