Terry Semel leaving Yahoo Inc.

Terry Semel has announced that he is now stepping down as the chairman of internet giant Yahoo Inc.

Last year, he had to resign from the position of chief executive due to pressure from the company investors.

Roy Bostock would now be replacing him as the nonexecutive chairman for the time being.

Semel spoke about his decision to leave the company: “With the company moving forward under new leadership, I believe this is an appropriate time for me to step down from the board.”

Incidentally, he has not been involved in the day to day running of the company after Yahoo co-founder Jerry Yang replaced him as CEO of the company.

Yahoo has been working hard on revamping its structure to regain the profitability as it struggles to compete against Google and Microsoft in the internet business.

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