Yahoo have kicked out their Chief Executive Terry Semel at a fractious AGM.
Mr Semel passed up the opportunity to buy Google in 2002 for $5 billion. Perhaps he is reflecting on this now because Google makes more money in a quarter than Yahoo does in a year. In short, Yahoo has been left standing by Google.
Google realised early on what a great money spinner paid for advertising (pay per click) could be. Yahoo can be criticised for doing too little too late but they are still a major player in the pay per click market.
Yahoo has asked its founder Jerry Yang to take the helm. Google’s meteoric rise must be galling for Yang as Google’s rise was in many ways a carbon copy of his “baby”.
Google’s roll out of free web-based versions of MSN’s Word and Excel is believed by some to be the precursor of an uneasy marriage between Yahoo and MSN. This may be the only way to check Google’s runaway success.
However an upbeat Yang seems keen to keep the circling sharks at bay when he states. “We need to execute better and to get better fast.”