June 18, 2007 | Monday

Terry Semel ousted as Yahoo CEO

By Jackie Danicki - Blogger  in News |Search Engines |Yahoo

As I speculated recently, Terry Semel has been removed as CEO of Yahoo. From the corporate press release, which gives about as much of the real story as most corporate press releases:

[Yahoo] today announced that the Board of Directors has appointed Jerry Yang, Yahoo! co-founder and long-time board member, as Chief Executive Officer. Terry Semel, current Yahoo! Chairman and CEO, will assume the position of non-executive Chairman and serve as an advisor and important resource for the company’s senior management team, while also working closely with the Board.

Watch that man spin! Semel says:

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.

Yahoo co-founder and longtime board member Jerry Yang is the new CEO.

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