Chairman of Yahoo Steps Down, Co-Founder To Take the Reins
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The chairman of Yahoo Inc., Terry Semel, ended his six-year tenure as chief executive officer yesterday and will hand over the reins to co-founder Jerry Yang in the Internet icon’s latest attempt to regain investor confidence.
Mr. Semel, 64, will remain chairman in a non-executive role.
Besides naming Mr. Yang as its new CEO, Yahoo appointed Susan Decker as its president. Ms. Decker, who had been recently promoted to oversee Yahoo’s advertising operations, had widely been seen as Mr. Semel’s heir apparent.
The announced the shake-up less than a week after Mr. Semel faced off with shareholders disillusioned with Yahoo’s lackluster performance during the past 18 months — a malaise that wasn’t reflected in Mr. Semel’s compensation.
