• BoomTown, Thursday, December 2, 2010 12:24 PM

File this one under sad and predictable. Yahoo's head of corporate development, Andrew Siegel, is heading for the door, sources tell BoomTown. Not only did Siegel join the company just over a year ago to lead the critical business of mergers and acquisitions, but, according to Boomtown, he "is well liked at Yahoo."

Translation: Expect the departure to lower morale even further in the wake of numerous executive exits, falling industry stature, and serious questions about the company's future. According to BoomTown, "Siegel has made some very prescient moves on game-changing companies for Yahoo to purchase -- including Foursquare and Groupon -- but Yahoo has not been able to land them for a variety of reasons." Chief among them, multiple sources tell BoomTown, is a widely held perception that Yahoo's existing management is incapable of steering the company toward future success. Siegel reportedly gave notice only last week, and Yahoo has yet to find a replacement.

Read the whole story at BoomTown »