Semel Steps Aside as Yahoo Chief
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Terry Semel will hand over the reins to Jerry Yang in Yahooâs latest attempt to regain investor confidence.
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Trying to better compete with rivals Google Inc. and Microsoft Corp., Yahoo Inc.'s president announced in a staff memo Wednesday its plans to reorganize the company's leadership.
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By MICHAEL LIEDTKE SAN FRANCISCO - Just before Google Inc. went public nearly three years ago, Yahoo Inc. Chairman Terry Semel assured a roomful of securities analysts and money managers that his company would remain the Internet's brightest star.
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Yahoo's top sales executive is on his way out, and a new global sales organization has been created.
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(InfoWorld) - One week after Yahoo Inc. named co-founder Jerry Yang as CEO, the company promoted David Karnstedt to head of North American sales, continuing a company restructuring that began in December 2006. Yahoo also announced plans to merge its search and display advertising units. In December, the company reorganized into three divisions: the Audience Group, the Advertiser & Publisher Group, and the Technology Group, the heads of which all report to the CEO. With Karnstedt's appointment as head of North American sales, U.S. Chief Sales Officer Wenda Millard will leave the company immediately, Yahoo said. Keeping up with Yahoo's executive arrivals and departures since the December shakeup requires a scorecard. Upon announcement of the three new corporate divisions in December, the company announced Chief Operations Officer Dan Rosenzweig would move on, departing in March. Also in December, former Chief Financial Officer Susan Decker became head of the Advertiser & Publisher Group, before being named president of Yahoo last week. Decker will continue to oversee that group, and will also have the Audience Group in her portfolio. The Technology Group was headed by Chief Technology Officer Farzad Nazem until he left the company June 8. Yahoo's other co-founder, David Filo, will lead the Technology Group until Nazem's replacement is named. Former CEOÂ Terry Semel stepped down last week to make way for Yang, but will remain with Yahoo as non-executive chairman.
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Yahoo Inc  nonexecutive  Chairman Terry Semel is leaving the board, the Internet company  said on Thursday, announcing the end of its formal ties with  the ex-CEO credited with reviving the company and then losing  touch.
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Blog: Yahoo Finance general manager leaves
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WebMethods Inc. said yesterday that its chief financial officer plans to step down at the end of December, adding to the list of leaders who have resigned from the Fairfax software company in the past two years.
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Terry Semel is stepping down as Yahoo&#39;s non-executive chairman, six months after handing over his CEO title to Jerry Yang.Semel is leaving the board effective immediately, Yahoo announced Thursday. He will be replaced as non-executive chairman by another board member, Roy Bostock, the company said.Semel was chairman and CEO of Yahoo for six years until he was replaced in a management shuffle last June. Yang, one of Yahoo&#39;s co-founders, was made CEO, and Semel was demoted to non-executive chairman.As CEO, Semel helped to build Yahoo&#39;s audience from 170 million to more than 500 million users. But he was also blamed for missteps that allowed Google to build a commanding lead in online search and advertising, prompting last year&#39;s reorganization.&quot;With the Company moving forward under new leadership, I believe this is an appropriate time for me to step down from the board,&quot; Semel said in the statement.He approached the board several months ago about leaving once a replacement could be found, Yahoo said.Bostock has a long history in the advertising industry, &quot;an area that is more important than ever to Yahoo&#39;s business and our long term success,&quot; the company said.On Tuesday&#160;Yahoo reported that net income for its fourth quarter declined&#160;to $206 million, from $269 million a year earlier. It also announced plans to lay off about 1,000 staff.Semel&#39;s departure from the board appears to mark the end of his tenure at Yahoo. Yang thanked him for &quot;his many contributions to Yahoo over the years&#160;-- and for helping to lay a firm foundation for future success and improved financial performance.&#8221;Bostock has been a board member at Yahoo since May 2003 and was elected unanimously by the board to replace Semel. From 1990 to 2000 he was chairman and CEO of D&#39;Arcy Masius Benton &amp; Bowles, and its successor advertising company The MacManus Group.
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Yahoo Inc. said head of sales Gregory Coleman is leaving the company, the latest casualty of a management shakeup following three years of slowing revenue growth and market share losses to Google Inc.
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Cammie Dunaway latest in series of executives to leave search company Yahoo.
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Yahoo has hired former ABC television executive Lloyd Braun to head its media and entertainment division, the Web portal said Tuesday.
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Dethroned Yahoo chief executive Terry Semel left the struggling Internet firm's board of directors on Thursday.
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Terry S. Semel, the ex-chief executive who is credited with reviving Yahoo and then losing touch, is leaving the companyâs board.
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Yahoo Inc. on Monday tapped  co-founder Jerry Yang to replace Chief Executive Terry Semel,  bowing to investor pressure as the Internet media company has  failed to keep up with rival Google Inc..
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Yahoo Inc. on Tuesday announced a reorganization that marks Chief Financial Officer Susan Decker as a potential successor as CEO and simplifies its structure as it battles faster-growing rival Google.
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SAN FRANCISCO -- Yahoo Inc. Chairman Terry Semel stepped down as chief executive in a surprise move Monday, ending his increasingly ineffectual pursuit of online search leader Google Inc. _ a losing battle that had demoralized Yahoo's shareholders and employees.