42244 0 3 econsultancy_xml <p>Investors had called for a management shake-up at Yahoo!'s annual shareholders' meeting last week, and a third of them voted against re-electing one or more directors, which put pressure on the company's board. </p> <p>The company's management in general had also come in for plenty of criticism, most famously around the <a href="/blog/538-yahoo-internal-memo-calls-for-major-shake-up">leaked 'peanut butter memo'</a> that claimed it was suffering from a lack of consistent leadership, business focus and a <em>cohesive strategy.</em></p><em> <p>A <a href="/blog/608-bloggers-react-to-yahoo-s-management-shake-up">major reorganisation of the company's management</a> followed in December last year, but doesn't seem to have been enough to please the critics. </p> <p>Some blame Semel for failing to realise the importance of search advertising early enough, and failing to keep up with Google. But the <a href="/blog/907-panama-early-results-show-promise">introduction of the new Panama ad platform</a> is said to be improving the company's ad revenues, although not as quickly as some investors had hoped. </p> <p>In addition, Yahoo!'s leadership has been criticised for failing to cash in on the boom in social networking and online video. </p> <p>As new <a href="http://yodel.yahoo.com/2007/06/18/my-new-job/">CEO Jerry Yang points out on the Yahoo blog</a>, Semel's time as CEO was not without its successes:</p> <blockquote> <p> <em>"Terry helped Yahoo! increase our revenues nearly nine-fold from $717m in 2001 to $6.4bn in 2006; boost our operating income from a loss in 2001 to nearly $1bn last year; and create more than $30bn in shareholder value during his tenure."</em> </p> </blockquote> </em> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph>Investors had called for a management shake-up at Yahoo!'s annual shareholders' meeting last week, and a third of them voted against re-electing one or more directors, which put pressure on the company's board. </Paragraph> <Paragraph>The company's management in general had also come in for plenty of criticism, most famously around the <Link URL="/blog/538-yahoo-internal-memo-calls-for-major-shake-up" Window="New">leaked 'peanut butter memo'</Link> that claimed it was suffering from a lack of consistent leadership, business focus and a <Quote></Quote>cohesive strategy.</Paragraph> <Paragraph>A <Link URL="/blog/608-bloggers-react-to-yahoo-s-management-shake-up" Window="New">major reorganisation of the company's management</Link> followed in December last year, but doesn't seem to have been enough to please the critics. </Paragraph> <Paragraph>Some blame Semel for failing to realise the importance of search advertising early enough, and failing to keep up with Google. But the <Link URL="/blog/907-panama-early-results-show-promise" Window="New">introduction of the new Panama ad platform</Link> is said to be improving the company's ad revenues, although not as quickly as some investors had hoped. </Paragraph> <Paragraph>In addition, Yahoo!'s leadership has been criticised for failing to cash in on the boom in social networking and online video. </Paragraph> <Paragraph>As new <Link URL="http://yodel.yahoo.com/2007/06/18/my-new-job/" Window="New">CEO Jerry Yang points out on the Yahoo blog</Link>, Semel's time as CEO was not without its successes:</Paragraph> <Block> <Paragraph> <Quote>"Terry helped Yahoo! increase our revenues nearly nine-fold from $717m in 2001 to $6.4bn in 2006; boost our operating income from a loss in 2001 to nearly $1bn last year; and create more than $30bn in shareholder value during his tenure."</Quote> </Paragraph> </Block> </FormattedContent> 2007-06-19T07:26:00+01:00 0 1 econsultancy_xml <p> <strong>The troubled reign of Yahoo!'s Terry Semel has come to an end with the announcement that he is stepping down as the company's CEO.</strong> </p> <p>Semel will be replaced in the hotseat by Jerry Yang, and will remain at Yahoo! as non-executive chairman.</p> <FormattedContent xmlns="http://www.e-consultancy.com/schema/formattedContent/"> <Paragraph> <Emphasis>The troubled reign of Yahoo!'s Terry Semel has come to an end with the announcement that he is stepping down as the company's CEO.</Emphasis> </Paragraph> <Paragraph>Semel will be replaced in the hotseat by Jerry Yang, and will remain at Yahoo! as non-executive chairman.</Paragraph> </FormattedContent> false 1373 363598 Semel replaced as Yahoo! CEO false 2007-06-19T09:55:00+01:00 semel-replaced-as-yahoo-ceo 2009-04-28T22:51:58+01:00 2009-04-28T22:51:58+01:00 130