Yahoo chief steps down

Yahoo’s chief executive Terry S. Semel resigned yesterday
as part of a management shuffle designed to reverse flagging fortunes
as the company continues to lose ground to rival Google. Semel, 64, who
led Yahoo for six years and helped revive the company after the
Internet bubble burst, will retain the title of non-executive chairman
and remain in an advisory role while Jerry Yang, Yahoo’s co-founder,
takes over as chief executive. As part of the shake-up, Susan Decker,
an executive vice president who headed Yahoo’s advertiser and publisher
group, becomes president.

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