Yahoo! co-founder becomes company's CEO

Jerry Yang
Photo courtesy Texas Tech Today

By Jason Bennert

June 18, 2007

Yahoo! announced today that company co-founder Jerry Yang will replace Terry Semel as the company's chief executive officer.

Semel, 64, has been CEO of the pioneering Sunnyvale-based Internet company since 2001.

He will remain as the non-executive chairman of the Yahoo! Board of Directors.

"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,'' Semel said in a letter to the Yahoo! board.

Yang, 39, co-founded Yahoo! in 1995 with fellow Stanford University graduate student Dave Filo. He also serves on the Stanford University Board of Trustees and on the Cisco Systems board of directors.

"I'm delighted to assume this leadership role at the company David Filo and I started 12 years ago. I want to thank Terry for his many contributions to Yahoo! and for giving the company six of its best years. He has been not only a strong leader, but a consummate partner,'' Yang said in a statement.

Yahoo! also announced that company executive Sue Decker has been promoted to president.

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