Call Him Coach Semel Please
Yahoo’s Terry Semel steps down as CEO
“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.”
Your attention please, 1st – “The company is in good hands,” Semel said in an interview Monday. “I felt like it was time for me to move more into a coach’s role than a player’s role.”
2nd – “Signaling Semel’s decision was voluntary, Yahoo said he will not receive a severance package. The former movie studio executive already has made a fortune since joining Yahoo in May 2001, having realized nearly $450 million in gains by exercising some of the stock options he received during his tenure.”
And – “Despite Yahoo’s recent struggles, Semel received another big bundle of stock options last year that boosted the value of his 2006 compensation package to $71.7 million. That was more than any other CEO among 386 publicly held companies covered in an Associated Press analysis of executive compensation using new rules dictated by the Securities and Exchange Commission.”
3rd – “Since Semel’s arrival in May 2001, Yahoo’s stock has nearly tripled as the company benefited from the influx of advertising flowing to the Internet from newspapers, magazines and other more-established media.”
And – “But Yahoo’s inability to capitalize on the shift as adroitly as Google tarnished Semel’s legacy.”
Yahoo co-founder Yang to replace Semel as CEO
“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.”
Which leads to -
“Yang’s return to the head of the company he helped set up 13 years ago also heightened speculation that Yahoo may be poised for more drastic moves. These could include possible partnerships with rivals or a merger with the likes of Microsoft Corp., Time Warner Inc.’s AOL, or News Corp.’s MySpace, CNBC television reported.”
This is what Jerry himself had to say;
“The title of Chief Yahoo takes on new meaning today. I have the great honor of stepping into the role of Yahoo!’s Chief Executive Officer. Yahoo! has an incredibly bright future and I make this move with deep conviction and enthusiasm. I’ve partnered closely with our executive teams for 12 years to steer our strategy and direction and today I’m ready for this challenge.”
So… Jerry is good to go.
“A sudden change like this signals that a lot of drama might be going on behind the scenes.”
And I think to myself – “The former movie studio executive already has made a fortune since joining Yahoo in May 2001, having realized nearly $450 million” and “the value of his 2006 compensation package to $71.7 million” so what difference does whatever drama make? There’s your story… how to make funny money online regardless what people think of you. Works if you work it!
