SAN FRANCISCO -- Yahoo Inc. Chairman and Chief Executive Terry Semel is stepping down as CEO and will be replaced by co-founder Jerry Yang, the company said on Monday, following investor pressure for a change in management that sent shares up 8 percent in extended trade.
The Sunnyvale, California-based company said Semel was named non-executive chairman of the company's board of directors. It also named Susan Decker, the company's former chief financial officer, as president of the company.
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