Yahoo co-founder replaces Semel as CEO
San Francisco (CA) - After exasperating investors for most of the past 18 months, Yahoo Inc. (Nasdaq :YHOO - news) Chairman Terry Semel finally found a way to please Wall Street by stepping aside as chief executive.
Semel’s capitulation, announced late Monday, came less than a week after he faced off with shareholders disillusioned with the company’s lackluster performance as Internet search leader Google Inc. pulled further ahead in the lucrative online advertising market.
The malaise had contributed to a nearly 30 percent drop in Yahoo’s stock price since the end of 2005.
More here at Yahoo
Semel’s capitulation, announced late Monday, came less than a week after he faced off with shareholders disillusioned with the company’s lackluster performance as Internet search leader Google Inc. pulled further ahead in the lucrative online advertising market.
The malaise had contributed to a nearly 30 percent drop in Yahoo’s stock price since the end of 2005.
More here at Yahoo
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