Semel Steps Down as Yahoo CEO

Jun 18, 2007  •  Post A Comment

After struggling to keep pace with dominant search engine Google, Yahoo CEO Terry Semel stepped down Monday. Yahoo co-founder Jerry Yang replaces him.
Mr. Semel moves to a non-executive post as chairman of the board. Susan Decker, the company’s chief financial officer, steps up to president.
The Sunnyvale, Calif. Web giant has toiled to compete with its rival up the highway in Silicon Valley. Most recently, Yahoo has faced challenges with its advertising system, Panama, and has been criticized for failing to capitalize on the social networking trend.
Also, Yahoo has not been as aggressive in acquisitions as Google, which acquired both DoubleClick and YouTube in the past year.
Yahoo’s financial results for the first quarter disappointed Wall Street.
Yahoo also lags in online video. YouTube attracted 48 million unique visitors in May and Google 17 million, while Yahoo lured nearly 13 million, according to Nielsen//Net Ratings.
Mr. Semel joined Yahoo in 2001.
(Editor: Horowitz)


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