{"id":1439,"date":"2007-06-18T17:42:59","date_gmt":"2007-06-18T21:42:59","guid":{"rendered":"http:\/\/www.mathewingram.com\/work\/2007\/06\/18\/semel-out-as-ceo-investors-cheer\/"},"modified":"2007-06-18T17:42:59","modified_gmt":"2007-06-18T21:42:59","slug":"semel-out-as-ceo-investors-cheer","status":"publish","type":"post","link":"https:\/\/mathewingram.com\/work\/2007\/06\/18\/semel-out-as-ceo-investors-cheer\/","title":{"rendered":"Semel out as CEO, investors cheer"},"content":{"rendered":"

snipshot_e4iniuupqat.jpgWell, well, well. After six years — and the last couple of those facing mounting criticism of his efforts in the corner suite — Hollywood transplant Terry Semel is out as chief executive officer<\/a> of Yahoo. To add insult to injury (although he remains non-executive chairman, which means he’s hardly hitting the bread lines) the share price of the Internet portal jumped by more than five per cent<\/a> in after-hours trading after the company announced the news. Yahoo is going back to the future for a CEO: co-founder and Chief Yahoo Jerry Yang becomes the new chief executive. Yang has a blog post about it here<\/a>. He says that Semel:<\/p>\n

“Refocused the company on key strategic priorities, and in so doing, helped Yahoo! increase our revenues nearly nine-fold from $717 million in 2001 to $6.4 billion in 2006; boost our operating income from a loss in 2001 to nearly $1 billion last year; and create more than $30 billion in shareholder value during his tenure. <\/p>\n

He helped grow our audience from 170 million to more than 500 million users globally, and he oversaw the expansion of our base of talented employees from 3,500 to nearly 12,000.”<\/p><\/blockquote>\n

This has to make Eric Jackson feel pretty good — he put together a Web-based protest<\/a> group (mentioned by the Times UK<\/a> and Wired<\/a>, among other places) that got a significant amount of support from disgruntled shareholders, and took its criticisms to the Yahoo shareholders meeting. My friend Paul Kedrosky, who has been predicting this move would come, live-blogged the conference call<\/a>. <\/p>\n

I guess the pressure is on Jerry Yang now — although I’m sure his $2.2-billion net worth<\/a> should be a comfort either way. Valleywag has a comprehensive “corporate obituary” on Semel and his reign here<\/a> — and also points out that Jerry Yang is no Steve Jobs<\/a>. Ouch. Painful but true, I suspect. Mike Arrington has a different take on the news at TechCrunch<\/a>: why so sudden? Yahoo could have announced his retirement, etc. and taken its time. Instead, he is just gone and Yahoo turns to an old standby. That is a little odd.<\/p>\n

<\/div>","protected":false},"excerpt":{"rendered":"

Well, well, well. After six years — and the last couple of those facing mounting criticism of his efforts in the corner suite — Hollywood transplant Terry Semel is out as chief executive officer of Yahoo. To add insult to injury (although he remains non-executive chairman, which means he’s hardly hitting the bread lines) the … <\/p>\n

Continue reading “Semel out as CEO, investors cheer”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_crsspst_to_mathewingramblogwordpresscom":false,"mf2_syndication":[],"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1439","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/posts\/1439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/comments?post=1439"}],"version-history":[{"count":0,"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/posts\/1439\/revisions"}],"wp:attachment":[{"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/media?parent=1439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/categories?post=1439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mathewingram.com\/work\/wp-json\/wp\/v2\/tags?post=1439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}