Yahoo Inc. plans a new management reorganization aimed at strengthening its competitiveness against rivals Google and Microsoft, said its president Susan Decker in a memorandum sent to employees of the company.
Gregory Coleman, the executive vice president of global sales, will leave the company in February, and his duties will be integrated into a new department of the company, the statement to employees further states. This is, as she emphasized, a mutually agreed departure.
The new department, called Global Partner Solutions, will take responsibility for the company’s relationships with advertisers, publishers, advertising networks, and others, and will be led by Yahoo’s executive vice president Hilary Schneider. This is yet another in a series of management reorganizations at the company, one of Silicon Valley’s leading firms. In June, the company’s sales department director Wenda Harris Millard left the company.
“I know there have been many changes at Yahoo over the past few months, and I know that changes are not always easy,” Decker emphasizes. “However, I am confident that we are placing the right people in the right positions to focus on the right opportunities.”
In the past year, Yahoo has seen a number of executive departures – some voluntarily, and some not – as the company faces slowed growth and loses market positions to Google and other rivals. With the accumulation of problems, Yahoo’s stock price has nearly halved, from over $43 in January 2006 to $22.55 on Wednesday. (Hina)
