Yahoo Begins Reorganization With Ouster Of CFO
Yahoo on Thursday announced the departure of its Chief Financial Officer Blake Jorgensen in the form of a blog post written by CEO Carol Bartz.
The unorthodox move, which was accompanied by an email to employees, led some analysts to speculate that there is more news to come from the beleaguered Internet company.
"We expect more significant restructurings and divestitures of various businesses will occur in the future as (Yahoo) focuses on its core businesses," wrote UBS analyst Ben Schachter in a research note on Thursday. "Also, while the timing is uncertain, we still believe a search deal with (Microsoft) is likely."
For the record, Schachter wrote, Yahoo "unequivocally" denied that Jorgensen's departure had anything to do with his admission at an investor conference on Wednesday that Yahoo was open to a search deal with Microsoft.
Said Bartz in her email to employees: "There's been a lot of speculation in the media over the past few days ... that's been a little frustrating, but I'm not willing to speak publicly about decisions before they're final," adding, "Today, they are."
As such, the company has combined its tech and product groups under one roof, which will be led by Ari Balogh as EVP of products and chief technology officer. "Ari's direct reports now include one leader for each product group," wrote Bartz.
The company's mobile-centric Connected Life team has been integrated into various parts of the new organization, while its leader of four years, Marco Boerries, has resigned from the company.
The regional focus of Yahoo is now twofold between North America and international. The regions deliver Yahoo's products, programming and services to consumers, partners and advertisers in local markets. "They will partner closely with the newly formed regional solutions & products group in Ari's organization," Bartz explained.
Elisa Steele, meanwhile, has been appointed as Yahoo's new chief marketing officer, effective March 23. Steele most recently served as SVP of corporate marketing at data management solutions provider NetApp.
Reporting to Steele will be brand marketing, audience marketing, corporate communications, insights, policy and privacy, community affairs and related central teams.
Additionally, Bartz said the company is now actively seeking an executive to oversee customer care and ad operations globally.
New to Yahoo is a service engineering and operations team, which will be responsible for delivering common technology services at scale, including application management and infrastructure. Leading this organization is David Dibble, who joined Yahoo in December. Dibble's team will also be accountable for delivering more effective corporate IT systems.
Jorgensen, meanwhile, is expected to remain at Yahoo through a transition period.
"Our intention is to leave this structure in place for two to four years," Bartz wrote to employees. "I know you guys have reorg fatigue. Hang in there."
Recent Online Media Daily Articles
-
LikeableAds.com Launches, Focus on Social Media Ads May 20, 3:04 p.m.
To keep up with growing demand from Madison Avenue, the social marketing consultants at Likeable Media ... -
Yahoo To Ramp 'Native' Ads On Tumblr May 20, 1:37 p.m.
With its $1.1 billion acquisition of Tumblr, Yahoo on Monday made clear it plans to allow ... -
Gigya Improves Marketing, Adds 21 Social, Tech Partners May 20, 9:15 a.m.
Social services startup Gigya on Monday is expected to announce the addition of 21 social and ... -
Health/Wellness Shop Diversifies Into Happiness, Launches Platform To Fuel It May 20, 9:06 a.m.
The CementBloc, a spunky New York-based agency specializing in health and wellness marketing, is diversifying into ... -
Yahoo To Buy Tumblr For $1.1 Billion May 19, 7:26 p.m.
The Yahoo board has agreed to acquire popular blogging site Tumblr for $1.1 billion in cash, ... -
Weather.com Develops Real-Time Data Ad Targeting May 17, 5:12 p.m.
Weather.com has begun using audience segmentation data from Lotame to develop real-time targeting services based on ... -
MetroPCS Drops Challenge To Neutrality Rules May 17, 4:44 p.m.
T-Mobile's newly acquired MetroPCS withdrew its challenge to the Federal Communications Commission's net neutrality rules on ... -
'Geo-Conquesting' Drives Higher Mobile Click Rates May 17, 3:56 p.m.
The practice of conquesting -- running advertising for a brand or product near editorial content about ... -
Cox-Backed, Skyword Raises $6.7 Million To Enhance Content Creation May 17, 3:34 p.m.
Internet services and utilities will rely more on content as the industry matures. Shereta Williams, vice ... -
Ford, Jeep, Chevy Top Digital Auto Brands May 17, 1:09 p.m.
On the digital proving track, Detroit is beating out the competition. Ford, Jeep and Chevrolet were ...
Be the first to comment on "Yahoo Begins Reorganization With Ouster Of CFO"
Leave a Comment