Feeds

Semel resigns as Yahoo! CEO

Frightened by angry stockholders

Next gen security for virtualised datacentres

Yahoo! CEO Terry Semel has resigned in the face of ongoing criticism from stock holders. He will be replaced by Yahoo! co-founder Jerry Yang, with former CFO Susan Decker taking over as president of the company.

Last week, at Yahoo!’s annual meeting, Semel weathered several angry questions from shareholders, but an effort to restructure his $71.7m compensation package was voted down. Yahoo!’s stock price has dropped 10 percent in the past year, and the company continues to trail Google in the ever-important Web search market. According to the latest figures from Hitwise.com, Yahoo! accounts for only 21 per cent of Web searches, with Google at 65 per cent.

After six years in the CEO job, Semel will remain with the company as a non-executive chairman. In a statement released by the company, the former Warner Brothers CEO said that his decision to resign came out of ongoing discussions with the Yahoo! board about "the importance of ensuring a smooth succession in Yahoo!'s senior leadership."

"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," he said. "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." Yahoo!'s stock price is up five percent in after-hours trading.®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
BBC: We're going to slip CODING into kids' TV
Pureed-carrot-in-ice cream C++ surprise
Twitter: La la la, we have not heard of any NUDE JLaw, Upton SELFIES
If there are any on our site it is not our fault as we are not a PUBLISHER
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.