Semel Out, Yang in as Yahoo’s CEO

Yahoo today named co-founder Jerry Yang as their CEO, replacing Terry Semel who will become a “non-executive Chairman” and serve as an advisor. Susan Decker, formerly Executive Vice President and Head of Advertiser and Publisher Group, was also appointed as President of the company. Before that she was the chief financial officer.

What does this mean for Yahoo? Well I really hope Yahoo pulls things together. They have made big moves toward developing innovative projects, and buying others, but they need to stop sucking their sites dry for all the money they can get. The entertainment sites are especially heinous and flashy, instead of being simple and classy. I’m talking about you Yahoo TV. Yang posted on the Yodel Yahoo blog about his joint vision with Decker. The monetizing part scares me, especially since they have done such a bad job of being tasteful and Google offers most things for free.

A Yahoo! that executes with speed, clarity and discipline. A Yahoo! that increases its focus on differentiating its products and investing in creativity and innovation. A Yahoo! that better monetizes its audience. A Yahoo! whose great talent is galvanized to address its challenges. And a Yahoo! that is better focused on what’s important to its users, customers, and employees.

Sources: Press Release, Yang’s Announcement