Terry Semel, the longtime head of Internet portal firm Yahoo Inc, has been replaced by Yahoo! co-founder Jerry Yang, the California-based firm said.
Semel, who had combined both positions of the firm's chief executive and board chairman, will keep the board position. Susan Decker, who recently took over the important advertising operation of Yahoo!, was named president of the firm.
Semel was under pressure from shareholders because of unconvincing performance. Yahoo! has for years lagged behind the booming rival Google.
Semel joined Yahoo as CEO in 2001, overhauled the company's sales force and bought companies such as Overture Services Inc to move into the market for Internet search ads, Bloomberg financial news service reported. He had spent more than two decades at Warner Bros, where he backed such big-budget movies as "Batman."