There were many cheers as well as sadness when Yahoo’s CEO, Terry Semel announced he would resigning his position. There was much controversy between board members about his salary and his competence in the job. Jerry Yang, the co-founder and board member of Yahoo, will be replacing Terry Semel which excited a lot of investors and other business people. Usually when a CEO steps down it isn’t a good sign but with the recent and consistent decline in Yahoo’s profits, many are interested to see what Jerry Yang can do with the company. During Terry Semel’s resignation he said, “This is the time for new executive leadership, with different skills and strengths, to step in and drive the company to realize its full potential. It is the right thing to do, and the right time is now.” Terry Semel reportedly made nearly $40 million dollars last year as the CEO of Yahoo in contrast to the CEO of Google, Eric Shmidt who only take a $1 dollar salary but receive stock which motivates him even more to make his company successful.
Comments