With an aim to bring some equilibrium in the stumbling profits, down by 38% in 2006 compared to 2005, Yahoo! shuffled its top management positions Tuesday, shifting Chief Financial Officer Susan Decker as the head of ‘advertiser and publisher’ and making way out for Chief Operating Officer Dan Rosensweig. Lloyd Braun, head of Yahoo! Media Group and David Katz, behind Yahoo! Studios, also stepped down early this week.
Chief Executive Terry Semel said:
We’re putting the right people in the right places to execute our focused growth strategy. The Internet is continuing to grow and evolve at a rapid pace, and we’re reshaping Yahoo to be a leader in this transformation, just as we did successfully five years ago.
Though we’re quite aware of the rumors about the shakeup, however, were not expecting it that early. No doubt, Yahoo! has already lost ground to Google and only time will tell how far the move will help company establish itself and gain a respectable platform in the Silicon Valley.
Yahoo!’s shares at a meager $27.57 and the rival Google’s at $487 clearly backs the need for a drastic and immediate change, which now has been done. Google has already spread its tentacles too far in the Internet world for Yahoo! to catch up. It’s new advertising engine apparently do not stand at par with the Google’s acquisition of YouTube.
Via: tradingmarkets
