Fortune: Semel 'exactly what Yahoo needed'

Yahoo's Terry Semel is right about one thing: the press is indeed full of shit.

"As many investors now know, Semel has proved most of his doubters wrong. A thorough reorganization, a series of shrewd deals, and a rebound in the online-advertising market have combined to send Yahoo's growth and profits soaring... Cut through the perks and trappings of Semel's Hollywood life and what you get is a born dealmaker, and a tough but hands-off manager that people like working for. Indeed, Semel is quite happy to tell you that his lack of tech savvy is one of his greatest assets... In other words, contrary to what everyone first thought, Semel's background turned out to be exactly what Yahoo needed." [Fred Fogelstein, Fortune Magazine, April 2004]