Yahoo CEO Steps Down (40 Million Dollar Man)

[RamboLiberal]

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

[Robbien]

1. CEO of Yahoo makes $40 million a year

Hedge fund managers of big hedge funds make $400 million a quarter.

Guess this says a lot about our ownership society.

[SOS]

2. Off to enjoy the tax cuts he paid for...

[Catch22Dem]

3. Wozniak donated to Dean & Kerry

Right on!

[silverojo]

6. After seeing that chart

I am now proud to be the owner of several Hewlett-Packard peripherals. :)

[Joe Chi Minh]

4. I joined a Yahoo translators' group and the desperados don't seem able or willing

to de-register me. I just have to have them automatically sent to my Delete folder. I hold Mr Semel personally responsible. And from now on, Ms Susan Decker.

[bluerum]

5. If I could land a gig making $40M and hang on for year - I would retire. eom