Breaking: Yahoo’s Terry Semel Quits

[Charles]

Terry Semel, CEO of Yahoo since 2001, has “resigned.” Co-founder Jerry Yang is the interim CEO, and Sue Decker has taken over as president.

The markets are happy and the stock is up sharply in after hours trading.

There is a back story here and we are digging to try and find it. The proper way for Semel to leave the company would be to announce his retirement and begin a search for a replacement. A sudden change like this signals that a lot of drama might be going on behind the scenes. This will bring the vultures in to speculate on Yahoo’s future. One article at CNBC has a bunch of potential ways of carving the company up for competitors.



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[mini_0]

Well quite a business news , but i do wonder how someone's appointment or replacement and some one so old leaving the company can shoot the markets so up and down . really strange .
Yahoo!'s focus on centralized decision making is famous enough to be part of Strategic Management courses. The question that comes to my mind is whether Terry was allowed to do what he wanted or his position was just used to get the signatures.
this is what i read as a reaction somewhere , which makes me think if he ever did a job like thing or not .