Terry Semel, the former Hollywood studio boss, stepped aside at Yahoo!, after 6 years in the executive suite. Co-founder and Chief Yahoo Jerry Yang became CEO (here’s his My New Job memo) , with Sue Drecker as president. Semel will remain as nonexecutive chairman. Yang is seen by some as a placeholder.
Semel also didn’t acquire DoubleClick, Feedburner, MySpace, Facebook or YouTube, and the original content never materialized.
The entertainment was a bust. Employee morale was low.
Semel’s pay package has been decried, as has the company’s cooperation with the Chinese internet police.