Feeds

Semel resigns as Yahoo! CEO

Frightened by angry stockholders

Top three mobile application threats

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.®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.