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News > Companies
Yahoo! names new CEO
April 17, 2001: 8:23 a.m. ET

Terry Semel, former co-CEO of Warner Bros., to lead Internet portal
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NEW YORK (CNNfn) - Internet portal Yahoo! Tuesday named veteran media executive Terry Semel as its new chairman and CEO.

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Terry Semel
Named new chairman, CEO of Yahoo! (Courtesy: Yahoo!)
 
Semel formerly was chairman and co-chief executive of film studio Warner Brothers, where he worked for 24 years. He and his co-CEO Robert Daly left the top jobs at the studio and Warner Music in 1999. Those companies are units of AOL Time Warner (AOL: Research, Estimates), which also owns CNNfn.

Yahoo! announced last month that it was looking for a replacement for Tim Koogle, its CEO, at the same time it warned that first-quarter results would fall short of forecasts. It said at the time Koogle would remain as chairman, but Tuesday's announcement said Koogle will become vice chairman of the company, then give up that title in August 2001, although he is expected to stay on the board.

The company said Jeff Mallett, its president and chief operating officer, and Susan Decker, its chief financial officer, will retain their positions and report to Semel.

Shares of Yahoo! (YHOO: Research, Estimates) fell 47 cents to $17.15 in pre-market trading Tuesday following the announcement, after gaining 66 cents in Monday trading. graphic





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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.