Bartz reshuffles Yahoo! management
LONDON - New Yahoo! CEO Carol Bartz has changed the company's management structure, claiming she has simplified the organisation and torn down the "silos" which were bogging the company down.
Most notable is the departure of chief financial officer Blake Jorgensen -- who stepped down from the company yesterday during a technology conference in San Francisco.
Jorgensen, who replaced former Yahoo! number two Susan Decker in the post last June, will remain with the company during a "transitional period", likely until a proper replacement is found.
Bartz made the announcement through a hyperbolic post Yahoo!'s corporate blog, which was light on detail.
It has emerged that Bartz has disposed of Yahoo!'s "matrix" style of management which was criticised for its lack of clear reporting lines, instead streamlining the executives into a traditionally structured team, who will report directly to her.
The company has combined its various product businesses -- technology, search, and advertising -- into a single entity, which will be led by chief technology officer Ari Balogh.
Hilary Schneider, the current chief of advertising, publishing and audience groups in the US, will head Yahoo!'s new North American operations.
Global business will be managed through two separate entities instead of the previous four: North America with Schneider at the helm and International, whose chief has yet to be named.
Marco Boerries, head of the Connected Life group, Yahoo!'s mobile product arm, has resigned for personal reasons.
In Boerries absence, Yahoo!'s mobile business and advertising network will be led by David Ko.
Elisa Steele, the former senior vice president of data agency NetApp, has been named as chief marketing officer.
Wall Street reacted positively to the changes as Yahoo! shares rose 4% yesterday to close at $12.98.
Bartz has not ruled out a future deal with Microsoft, with further speculation fuelled earlier this week when Microsoft CEO Steve Ballmer said a partnership would be necessary to take on Google, which rules the search market with a 63% share.
At the moment, Bartz seems more focused on cleaning up Yahoo!'s tarnished image, in her memo announcing a new approach to customer service with the creation of a Customer Advocacy group and reviving the company as a formidable brand.
Bartz said: "In the past few years, we haven't been as clear in showing the world what the Yahoo! brand stands for. We're going to change that. Look for this company's brand to kick ass again."
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