There had been some buzz that Terry Semel might be leaving his CEO post at Yahoo after he got less than resounding support at last week’s shareholder meeting. The buzz came true when it was announced today that Semel is stepping down to be replaced as CEO by co-founder Jerry Yang with Sue Decker becoming President. Semel will remain as non-executive Chairman of the Board.
Now, of course, there is even more buzz about possible significant restructuring or a sale of the company all of which drove the share price up sharply. New CEO Yang denies the acquisition part of the rumors for now at least.
However, the interesting part of this from a Microsoft perspective was presciently summarized last week in MSFTextrememakeover’s Where is the Ballmer/MSFT Outrage?
Why are YHOO shareholders rebelling vocally and calling for a new CEO, while MSFT shareholders, who have experienced far worse returns over the tenure of the current CEO, continue to just meekly grin and bear it? Is it that MSFT shareholders somehow feel the worst is over and the company is now on the right track, whereas YHOO shareholders don’t? Or have YHOO shareholders just not completely given up and settled for abysmal stock performance and sloppy leadership/execution yet?