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Yahoo Inc. Chairman Terry Semel ended his six-year tenure as chief executive officer Monday and will hand over the reins to co-founder Jerry Yang in the Internet icon's latest attempt to regain investor confidence. Semel, 64, will remain chairmain in a non-executive role.
Besides naming Yang as its new CEO, Yahoo appointed Susan Decker as its president. Decker, who had been recently promoted to oversee Yahoo's advertising operations, had widely been seen as Semel's heir apparent.
Chairman and Chief Executive Terry Semel is stepping down as CEO and will be replaced by co-founder Jerry Yang, the company said on Monday, following investor pressure for a change in management that sent shares up 8 percent in extended trade.
"As we discussed my future goals and plans, I was clear in telling the board of my desire to take a step back sooner rather than later. I believe Jerry and Sue, with their superb talents and intense dedication to Yahoo and its people, are the perfect combination to carry us forward.
"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.
From MSNBC [msnbc.msn.com]
In fact, one idea that News Corp. has been studying, according to sources, would involve the sale of its MySpace division to Yahoo for a significant stake in the company. Bankers believe MySpace could be worth as much as $10 billion in such a deal, though it's far from clear Yahoo would agree. If it did, News Corp. might be able to have as much as a 25 percent stake in Yahoo. Any deal, which again is in its early stages, would also involve Yahoo outsourcing its search to Google, which currently plays that role for MySpace.
A similar idea has come up in meetings investors have had recently with Time Warner CEO Richard Parsons. Parsons has responded to speculative questions about an AOL-Yahoo link up by saying that a combination of AOL and Yahoo could make sense, if search was taken over by Google, for a significant fee.
[edited by: iThink at 9:35 pm (utc) on June 18, 2007]
It's a tough question. Semel was suppose to be the guy who was hip to what real people wanted in terms of entertainment.
Even in news, where we saw Yahoo be very aggressive, there was no real innovation.
But, Yahoo does much well. But, it's time to shake things up. Semel gets credit with seeing that. It's a wise man who knows when to step down. I salute him.
I don't think that you will necessarily see the return og the directory though! The world has moved on and products like Yahoo Answers are really fantastic. Yahoo mail is also stil a market leader imho.
Remember that Susan Decker doesn't believe that competing with Google is the core vision [webmasterworld.com] either - so we'll see how it plays out.
Jerry Yang, Yahoo!'s new chief executive, will robustly defend moves to take over or split up the company after the embattled Terry Semel stepped down from the role last night.
Long-running speculation was ramped up on Wall Street and in Silicon Valley today that Yahoo! could be the target of a bid likely to value the internet group at more than $50 billion.
My 1# suggestion to you, Mr. Yang:
I dont want to log in with an account to view tv listings. I hate logging in to anything. Please minimize the services that require a log in.
What has Yahoo got that any feed-based "portal" doesn't have?
Anyway, Yahoo has missed so many opportunities and mistakes that gave Google a chance to rise. If they has done it right at the beginning, we probably won't have Google today. I still feel bad for Yahoo.
Hopefully with a new captain, they can turn the ship around and running at the full speed.
If I was Yahoo, I will:
* Rebranding Altavista to its glory day
* Focus on search to regain market share
* Gain market share on their properties
* Gain the search distribution market through its partners.
* Focus on technology to outpace Google. Fast and innovation are the mean to survive.
* Forming alliances with Ebay, MS, Aol ... News Corp, Ask which will help them instantly regain market share, advertisers, publishers.
*** Finally, Yahoo needs to what it take to put Google in a defensive move.
If not, Yahoo might be content to simply go up against Google on Search, and if they do decide to do that then the first thing they should do is strip away all those news feeds and advertisements from their front page.
Google.com makes a great start page because there's nothing there but the search box and button. If Yahoo.com did the same, and threw in a lot of promotion to get themselves on people's start page, they might be in with a chance.
What is Yahoo?
If you can answer that question easily, then there is no problem. If not, Yahoo will be in trouble in the years ahead no matter who the top guy is.