Yahoo CEO Terry Semel has left the company, which will probably focus on implementing more cutting edge technology instead of content in its race against Google. 

Semel was the man who turned Yahoo around after the dotcom bubble burst in 2000, but has failed to maintain it in a leadership position ahead of Google.
While Google, which was almost acquired by Yahoo in 2002, focused on technology and integration over the last few years, Yahoo has concentrated on providing content to its users.
The market appears to have voted for the technology approach, though, with Google reporting $10,6-billion in advertising sales in 2006, with a 48% US market share. Yahoo, on the other hand, holds about 28% of the key US market share.
Semel will remain as chairman of the board.
Co-founder Jerry Yang, responsible for co-creating the site in 1994, has been appointed as the new CEO of Yahoo.