UPDATE: Semel Out As Yahoo! (YHOO) CEO

UPDATE: Well-well it turns out that today's rumors that Semel was out as CEO was true.

Yahoo! Inc. (Nasdaq: YHOO) announced after the close that Terry Semel, current Yahoo! Chairman and CEO, will assume the position of non-executive Chairman. Jerry Yang, Yahoo! co-founder and long-time board member, was named to the CEO position.

While there has been no formal activist investors in Yahoo!, it looks like the grass-root activists won here.

What's next? Buyout, strategic partnership? Hmmm

Could Yahoo! Be an Activists Target?

While pouring a little cold water on rumors Yahoo!'s (Nasdaq: YHOO) CEO Terry Semel would resign, CNBC's David Faber did discuss the notion that Yahoo! could find itself the target of activist investors that could force the company to explore strategic alternatives.

Looking through the list of holders, there are no 'usual suspect' of the activist persuasion.

According Bloomberg, the largest holders of Yahoo! are: 1. Capital Research and Management, 2. David Filo, 3. Legg Mason, 4. Softbank, 5. Jerry Yang, 6. Janus Capital, 7. Barclays, 8. Vanguard, 9. State Street, 10. Clearbridge Advisors.