Internet giant Yahoo has decided to replace current CEO Terry Semel with founder Jerry Yang. Semel will now take over as the company’s non executive chairman.  Taipei born Yang founded Yahoo along with David Filo in April 1995, and his return to managing company affairs nearly a decade later is a possible sign of the fact that Yahoo have decided to clean up their act and close the gap between them and Google.

The move is rumoured to have been triggered off by investor pressure, and Yahoo shares were heavily traded after the announcement of Yang as the new CEO. Will Yahoo team up with Microsoft ? or AOL ? Google is pretty much the leader in the search engine race, and its rivals have much to do in order to ensure that they do not disappear altogether. A merger might be in line to counter the big G, but merging two big companies is always easier said than done.