Semel out, Yang in at Yahoo

So it finally happened: angry shareholders seem to have got their way, and Terry Semel, CEO of the flailing web giant, Yahoo has resigned from his post and will now become a non executive chairman. Jerry Yang, cofounder will become the CEO and Sue Decker will be the President.

Yang and Decker to Focus on Realizing Yahoo!’s Strategic Vision by Accelerating Execution, Further Strengthening Leadership and Fostering a Culture of Winning

A culture of winning…. so is that a tactical admission that defeatist attitude had taken over the company, which has become the farm system for rest of the Valley. Is this big shake up enough to save Yahoo, which has seen some of its best talent leave the company to try their luck at some other start-ups.

More thoughts to follow… meanwhile have your say.

Semel discount was $4 billion.