Yahoo Replaces CEO; Founder Jerry Yang Back In Seat; Decker Is President

This is a huge surprise, even though we knew it was imminent … Jerry Yang, Yahoo (NSDQ: YHOO) co-founder and long-time board member, as Chief Executive Officer. Terry Semel, current Yahoo Chairman and CEO, will assume the position of non-executive Chairman and serve as an advisor, while also working closely with the Board. The board also named Susan Decker, formerly EVP and Head of Advertiser and Publisher Group, as President of the company. Release.

In Yang’s post on Yodel Anecdotal titled “My New Job,” he thanks Semel, writing that today “marks the close of a great chapter in my life with Terry Semel as my partner.” Why Decker as president? “In addition to knowing this company inside and out, Sue has incredible talents, leadership abilities, a fierce focus on winning, and intense dedication to this company and its people. I look forward to teaming more closely with her as we pursue our joint vision.”

What vision? Yang has an answer for that, too: “A Yahoo! that executes with speed, clarity and discipline. A Yahoo! that increases its focus on differentiating its products and investing in creativity and innovation. A Yahoo! that better monetizes its audience. A Yahoo! whose great talent is galvanized to address its challenges. And a Yahoo! that is better focused on what