The odds of Yahoo making any brilliant acquisitions in the near future – which were arguably already slim – appear set to decrease again. A report’s indicated that Andrew Siegel, the head of corporate development (and therefore mergers and acquisitions) is leaving the company.
Officially, Siegel’s departure hasn’t been confirmed. But word comes courtesy of Kara Swisher, who’s almost always right about these matters. And her anonymous source on this story might even have been Siegel himself, considering that he sought her out on Twitter a couple of weeks ago.
Anyway, losing Siegel will not be a good thing for Yahoo. On a very basic level, it’ll just be embarrassing, as the company’s seen a steady stream of execs and important people bail in recent months and years.
Also, Siegel seemed to have a nose for attractive organizations, as Swisher reported, “Siegel has made some very prescient moves on game-changing companies for Yahoo to purchase – including Foursquare and Groupon – but Yahoo has not been able to land them for a variety of reasons.”
It’s not yet known who will replace Siegel at Yahoo. The company could have a tough time between picking someone in-house (and perhaps raising morale) or trying to find an outsider who might shake things up and pull off something unexpected.