Yahoo! names Chappaz European head as profit trebles
LONDON - Yahoo! has said that profits for the third quarter have trebled to $253m and named Kelkoo's Pierre Chappaz as the new president of its European operations.
The internet company reported the leap in profits for the quarter after seeing advertising revenue rise by more than 200% to $765m (£428m). It reported revenues for the quarter of $907m, up by 154% from $357m for the same period last year.
Terry Semel, chairman and chief executive of Yahoo!, said: "Our engaged audience enables us to deliver an unmatched set of advertising opportunities, providing deeper value to our marketers, and supporting the mantra that great products are the key to a great business."
At the same time, Yahoo! said that it had hired Chappaz to head Yahoo! Europe. Chappaz was the founder and CEO of Kelkoo, which he established in 1999, and developed into Europe's leading shopping search engine. It was acquired by Yahoo! in April this year.
Joining him at the head of Yahoo! Europe will be Dominique Vidal, who is currently group managing director of Kelkoo. He will take the role of chief operating officer at Yahoo! Europe.
Chappaz said: "I believe in the vision that Yahoo! has for its international operations and look forward to working with the European management team to build, create and execute upon new opportunities for the European business."
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