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Jerry Yang moves into Yahoo's big office, Terry Semel on his way out as CEO

After six years, Terry Semel is stepping aside as Yahoo's CEO and Jerry Yang is taking the reins.

Jerry Yang - CEO, Yahoo Inc.

Today, Yahoo announced that Jerry Yang will be taking over as CEO, replacing Terry Semel. Semel has held the position for the last six years and, according to apost by Yang on Yahoo's blog, increased their yearly revenue by almost 5.7 billion dollars.

Susan Decker, previously Yahoo's Executive Vice President, has also been named as Yahoo's new President. Yang is also apparently excited about working with Decker. "I also couldn't ask for a better partner in Sue Decker as our new 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," Yang commented in his blog post.

Having been at Yahoo for the last 12 years, Yang has a vast knowledge of the company and the technologies at their disposal. The coming years will see if this corporate shuffle ends up helping Yahoo to take a piece out of Google's commanding share of the search market. In April of 2007, ComScore announced the following percentages for search market share:

Google: 49.7%
Yahoo!: 26.8%
MSN/Windows Live: 10.3% 5.1%
Time Warner: 5.0%

It should be interesting to see how Yang plans to shake up this market share and tip things in Yahoo's favor.