Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
The CEO of Yahoo, Terry Semel, has resigned from his role as the executive head of the pioneer web company to make way for co-founder 38-year-old Jerry Wang. Semel, who will stay on as non-executive chairman, had been under increasing pressure from shareholders as the rise of Google impacted its market share in the online search and advertising spaces.
However, Semel has not been axed from Yahoo and
has seemingly handed over the reins of the business to the younger
Yang, who co-founded the company 1994, in an orderly manner.
Semel said, "The Board and I have long talked about the importance of
ensuring a smooth succession in Yahoo!'s senior leadership – and more
recently, about the need for a leadership team committed to carrying
Yahoo! through its multi-year transformation. As we discussed my future
goals and plans, I was clear in telling the Board of my desire to take
a step back sooner rather than later."
Director Ed Kozel, speaking on behalf of the Board, said, "We believe
there is no better person in the world to run Yahoo! now than our
visionary co-founder Jerry Yang, who has helped build and run this
company over the past 12 years. Jerry provides phenomenal strategic,
technical, product and market leadership, has developed important
relationships with major business partners, and has defined and
nurtured Yahoo!'s unique, winning culture."
Despite the motherhood statements, however, Yahoo faces some serious
challenges going forward. Clearly outgunned in the search advertising
business by an increasingly powerful, cashed up and profitable Google,
Yahoo may have to consider a merger with another online player to stay
in the hunt.
Recent rumours have been the prospect of mergers with Microsoft and
AOL, as well as other online players such as social networking sites
MySpace and Facebook.
David Bass
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