Yahoo! Terry Semel replaced by co-founder Jerry Yang as CEO
Rating: ch, ch, ch, changes
by Bena Roberts
Yahoo! has announced that Terry Semel will be named Non-Executive Chairman, Sue Decker will be President and Jerry Yang, CEO. The future of Yahoo! will now be fostered around the Culture of Winning.
From the press release:
Terry Semel said, “The Board and I have long talked about the importance of ensuring a smooth succession in Yahoo!’s senior leadership — and more recently, about the need for a leadership team committed to carrying Yahoo! through its multi-year transformation. 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. 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.”
Jerry Yang said, “I’m delighted to assume this leadership role at the company David Filo and I started 12 years ago. I want to thank Terry for his many contributions to Yahoo! and for giving the company six of its best years. He has been not only a strong leader, but a consummate partner. And, Sue and I look forward to working with him to build on our firm foundation for future success and improved financial performance. Sue has been an integral part of the management team and knows the company incredibly well. She has demonstrated her ability to build successful teams, drive critical partnerships, and lead some of our most important business initiatives. And she has proved herself to be adept in an increasingly broad range of complex operational responsibilities”.
Sue Decker said, “It is an incredibly important time for Yahoo! and I am thrilled to be partnering with Jerry to execute on our strategic vision. We have a terrific opportunity to build upon the benefits that we are already realizing from the recent reorganization around our core customers: hundreds of millions of users, hundreds of thousands of advertisers, and tens of thousands of publishers all over the world. It has been a great privilege to work with and learn from Terry and his leadership team over the past six years and that foundation will serve us well as we focus on the great opportunities and challenges ahead.”
What we think?
We are positive on this announcement because continued change is essential for large companies and after six years at the helm, it is often time for fresh blood.
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