After a 30% drop in its stock prices over the past 18 months, it’s safe to say that Yahoo! hasn’t been doing so hot. Now, it will have to carry on without CEO Terry Semel.
Semel, who has been the Yahoo! CEO for six years, has officially announced his resignation, though he will remain with the Yahoo! team as a non-executive chairman. Assuming the position of CEO is Yahoo! co-founder Jerry Yang, and Susan Decker, former Yahoo! executive VP, has been named Yahoo! president.
This isn’t the first time a Yahoo! CEO has handed the reins to someone else in troublesome times. In fact, Semel assumed the position in 2001 when the former Yahoo! CEO, Tim Koogle, stepped down after repeated drops in Yahoo! stock prices, among other company difficulties.
Yahoo! has long struggled to reclaim the #1 spot, but with “behemoth” competitors like Google and AOL, the battle is far from easy. Will Yang have what it takes to lead Yahoo! to success in the online world, or will he pass the torch when it gets too tough? I guess we’ll have to wait and see.
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