The market seems to approve of Semel's decision to step down and hand the reigns back to Jerry Yang. Yahoo shares rose nearly a dollar, or 3.3 per cent, to $29.06 on the news in after-hours trading in New York. Semel will stay involved with Yahoo as a chairman.Read Full Story
Terry Semel is stepping down as Yahoo's CEO. Semel plans to become a non-executive chairman. Yahoo co-founder Jerry Yang will step back into the CEO role.