Feeds

Semel resigns as Yahoo! CEO

Frightened by angry stockholders

Security for virtualized 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.®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.