 Yahoo may seek new execs
(China Daily)
Updated: 2009-02-24 07:30
Yahoo! Inc Chief Executive Officer Carol Bartz has commissioned searches for several high-level executives amid a management shuffle at the Internet company, a person familiar with the matter said. The reorganization would be Bartz's first significant shakeup to bolster Yahoo's position in the online advertising market after she took over as CEO from co-founder Jerry Yang last month. Yahoo is seeking new ways to revive growth under Bartz, the former CEO of Autodesk Inc. Yahoo faces a slowdown in the online advertising market at the same time as Google steps up competition in areas such as graphical-display ads. Microsoft Corp is also going after Yahoo's employees, hiring at least three Internet-search executives since November. Bartz, assumed the CEO job after Yang spurned a $47.5 billion takeover offer from Microsoft last year. Yahoo posted a loss for the fourth quarter of $303.4 million, and profit fell in 10 of the 11 quarters before that. Yahoo may announce the reorganization as early as this week, most likely on Feb 25, the AllThingsDigital blog reported, citing people familiar with the matter. Bartz may be seeking a new chief marketing officer, the blog said. Yahoo spokesman Brad Williams declined to comment on what he called "rumors and speculation." Yahoo, based in Sunnyvale, California, rose 16 cents to $12.14 on Feb 20 in NASDAQ Stock Market trading. The shares are little changed this year. A reorganization by Bartz would come after a shuffle orchestrated by Yang last June. At the time, Yang created three teams that reported to president Susan Decker. Those moves centralized consumer-product development and created a companywide strategy group. The company announced plans in October to cut at least 10 percent of its workforce. Agencies
(China Daily 02/24/2009 page16) |
