Still digesting the news... but I am extremely optimistic about today's changes. Surprising myself how much in fact. But you'd need to know me to know this has everything to do with Jerry's entrance, not Terry's departure.
I am a huge Terry fan. Frankly I wish I'd had more occasion to interact with him directly, but every time I did I learned something... Terry is a brilliant, subtle, and generous leader... Watching him get beaten up in the press over the past year was excruciating. It was a very painful lesson in the "pile on" mentality of the popular press. It did however have the fringe benefit of forcing me to do an honest inventory of the company I've chosen to be at, our assets and liabilities, challenges and opportunities, etc. I've got a confidence now that is rooted in introspection. The new Yahoo needs committed, passionate individuals that not only "get it" but are willing to think long-term about the immense, world-changing opportunities at hand... The public thrashing we've taken and the weakness in YHOO over the last year has at least served to shake loose those that aren't here for the right reasons...
Having Jerry as our CEO is incredible... It was Jerry who personally "green lit" and funded Pipes (for instance)... When Caterina and I pitched it to him, he not only "got it," but explained it back to us in a framework that deepened our own understanding. Having Jerry as CEO is gonna be cool!
Also want to give a shout out to co-founder David Filo, who is 100% engaged (and has been continuously for more than a decade.) Filo just attended Yahoo's UK Hack Day, where he hung out at the venue interacting with hackers, supporting the event, acting as a judge, etc. Jerry and David are as passionate and involved as any founders I've seen at any company - startup or Fortune 500.
Terry, it's too soon for goodbyes and thank yous... I'm extremely psyched that you're staying plugged in and will serve as our Chairman in an ongoing way. Jerry, welcome back to (overtly) running your company and let's do this.