[Disclaimer: I'm CEO of Zooomr]
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Wow. Those words "Yahoo Says Terry Semel Resigns as CEO" just ran across my Bloomberg terminal 10 minutes ago.
I can't say that I'm really surprised by this. I've been a critic of Semel's for a while now. More recently Semel came under a great deal of fire from Yahoo shareholders for his enormous pay package.
Last week not executed on a vision of social search, but that they have bungled the communities that they have purchased and actually done more harm to the company than good.
Anecdotally, almost everyone I've talked to about Yahoo has expressed to me that the company is a wreck. That people are unhappy. That executives are leaving. That bureaucracy reigns supreme and that almost nothing can get done in the current environment. While there may be lots of reasons for this, at a certain point you have to look at your CEO and ask yourself if he is not in fact part of this problem. And this is what it would appear Yahoo has done today.
Hopefully with Semel's departure Yahoo can use this as a catalyst to restore much of the beating that they've taken in public opinion recently. Their rejection last week of a shareholder anti-censorship proposal. The ongoing negative press that they continue to receive over their
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Semel Resigns as CEO of Yahoo
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