Just got this from AdAge that Terry Semel resigned from Yahoo and that Jerry Yang has been announced as his replacement. This is clearly a move to appease investors that were pressuring him to leave. I can't say I saw this coming, but I do personally believe he was taking too much heat for watching Google grow. You could have said that ABOUT THE ENTIRE INTERNET COMMUNITY except for Google.
Yahoo does have some serious properties like Yahoo! Finance, Sports, Yahoo! Answers and of course Yahoo News, but PPC search is falling behind (my opinion based on actual campaigns in market) and not sure where they appear on the social networking radar. Yahoo does try and push everything in as holistic manner as possible and their sales team is one of the best out there, so all is not doom and gloom.
I met with Terry a few times and I'll never forget his reassurances to me when we were launching Harrisdirect's Elsie Lee campaign. He basically said "don't worry, Yahoo has your back". Unfortunately for Terry, nobody had his back. The internet world is changing and the way people get their news and information is changing too. Perhaps it takes one of Yahoo's founders to come back and reinvent Yahoo all over again. BTW: Here's the letter exchange between Terry Semel and Yahoo's Board.