According to NewYork Times Terry S. Semel stepped down on Monday and handed the reins of the struggling search company to co-founder Jerry Yang after six years on the job. The company announced co-founder Jerry Yang will take his place, with Executive Vice President Sue Decker taking on the role of president. The following is a letter sent from Semel to Yahoo’s board of directors.
Mr. Yang and Mr. Semel said they had been considering the changes for some time, after Mr. Semel notified the board that he wanted to step down sooner rather than later. “I saw myself much more as a coach than a player going forward,†Mr. Semel said in a conference call.
Mr. Yang said in an interview Monday that some of his primary functions would be to reinvigorate the company and attract top talent, not to overhaul its strategy. “We have a very clear strategy in place and we are executing on it,†he said.
Jerry Yang has also posted a blog post about his new role.
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