Yahoo's Semel Steps Down As Yahoo's Chairman

[drall]

Terry Semel stepped down as Yahoo Inc.'s chairman Thursday, severing his ties with the slumping Internet icon 7 1/2 months after he resigned as chief executive under shareholder pressure.
The Sunnyvale-based company said another director, Roy Bostock, will replace Semel as the nonexecutive chairman of its 10-member board.

Yahoo said Semel decided to give up his chairman's role several months ago but agreed to stay on to give the company time pick a successor.

Here is the article
[biz.yahoo.com...]

[edited by: engine at 5:17 pm (utc) on Feb. 1, 2008]
[edit reason] added quote [/edit]

[martinibuster]

Bleah. The guy they chose to replace him on the board is the same guy responsible for handing Semel 70 million dollars in a year that Yahoo shares were dropping like a rock.

Three major shareholder advisory firms had recommended opposing the re-election of Bostock to Yahoo's board last year. Nearly one-third of Yahoo shareholders voted against Bostock at the company's annual meeting, an unusually large show of dissent.

No wonder Yahoo shareholders are so welcoming of Microsoft.