Yahoo’s Semel Steps Aside

Looks as though Terry Semel is out as CEO at Yahoo. The news broke late this afternoon. and Jerry Yang, founder, will be stepping in.

According to the press release, it sounds as though Jerry Yang and Sue Decker will be sharing management duties, with Sue acting as President.

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.”

Semel continued, “Jerry and Sue will make an unbeatable team. Jerry has long been recognized as an Internet visionary. His incredible experience and close involvement since founding the company 12 years ago have given him tremendous strategic, technical and industry insight as well as unparalleled knowledge and understanding of Yahoo! and its great potential. We are equally fortunate to have Sue Decker, one of the most talented executives in the industry, as our new President. Sue has played a broad and important role in driving our strategy over the years, and has shown even greater skills and leadership with the success she’s had in taking on more operating responsibilities. Both Jerry and Sue have been great partners to me and I am looking forward to collaborating with and supporting them both, as well as the Board, in any way that I can as Chairman. I’m proud of all that we’ve accomplished over the past six years during this exciting, still early stage of the Internet’s development, and my single goal is to ensure that Yahoo! achieves its full potential.”

So What? I can’t say that this move is surprising. Most people expected this to happen sooner rather than later. The question is what will this do the strategic vision of Yahoo? Will Yahoo re-focus or risk spreading itself even thinner? Also, what will this do the talent drain apparently taking place at Yahoo? All interesting questions to be answered…stay tuned.

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