Yahoo! Shake Up – COO, CFO Out
Rumor has been circulating this afternoon regarding a major corporate announcement from Yahoo! Many speculated that CEO Terry Semel would resign, others thought Yahoo! might announce the long rumored acquisition of Facebook.
Turns out, neither of those theories were correct.
Here’s an excerpt from the Yahoo! press release that just crossed the wire:
“Yahoo!’s senior management team, actively led by Semel and with the continued participation of Yahoo! co-founder Jerry Yang, will work closely together on a daily basis to ensure that the company is aggressively moving its strategy forward, driving long-term growth and fulfilling Yahoo!’s core mission to connect people to their passions, their communities, and the world’s knowledge.
The company has a search under way for a new chief financial officer to succeed Decker, who will be assisting in this search. Decker will continue to serve as CFO in the interim. The new CFO and other corporate functions, including corporate development, legal affairs, human resources and corporate communications will report to Semel. Dan Rosensweig, chief operating officer, has decided to leave Yahoo!, at the end of March, to ensure a smooth transition.”
Trevor Jonas is an account director at Bite Communications (http://www.bitepr.com/), a worldwide public relations firm with offices in London, New York, San Francisco and Stockholm. An avid observer of the social media revolution, he can often be found posting about his favorite topics–PR, marketing and news consumption habits–on the Bite blog (http://blog.bitepr.com/).