Posted by Tom Foremski - December 5, 2006
Dan Rosensweig, chief operating officer is out...
This was released early Tuesday evening. It shows the the pressure Terry Semel, the CEO is under to match Google's much more efficient business model.
Here are excerpts from the release:
Yahoo! Re-Aligns Organization to More Effectively Focus on Key Customer Segments and Capture Future Growth Opportunities
New Structure to Focus on Serving More Sophisticated Demands of Audiences, Advertisers and Publishers Worldwide
SUNNYVALE, Calif.--(BUSINESS WIRE)--Yahoo! Inc. (Nasdaq:YHOO - News), a leading global Internet company, today announced a reorganization of its structure and management to align its operations with its key customer segments -- audiences, advertisers and publishers -- and more effectively leverage Yahoo!'s significant strengths to capture future opportunities for growth.
"We're moving aggressively to deliver the most possible value to our key customers -- audiences, advertisers and publishers -- and seize the major new opportunities we see ahead for the Internet," said Terry Semel, Yahoo! chairman and chief executive officer. "The Internet is continuing to grow and evolve at a rapid pace, and we're reshaping Yahoo! to be a leader in this transformation, just as we did successfully five years ago. Our strategy capitalizes on big emerging trends and leverages our core strengths in search, media, communities and communications. We believe having a more customer-focused organization, supported by robust technology, will speed the development of leading-edge experiences for our most valuable audience segments. In turn, we plan to drive growth and profitability by leveraging our deep audience insights to create a full-fledged advertising network, with a marketplace that meets supply and demand both on Yahoo!'s valuable owned-and-operated network and across the entire Internet."
Yahoo!'s strategy is to create unique user experiences and consumer insights by leveraging its unmatched global user participation, connections and data. The new structure is designed to drive this strategy by aligning the organization with four key objectives:
Three Operating Groups
Under the new structure, Yahoo! will have two customer-focused groups, each led by a senior, experienced operating executive, and a strengthened technology function headed by the chief technology officer. All three executives will report directly to Terry Semel. These groups are:
New Structure Will Increase Accountability, Speed Decision-Making
Semel said, "We're putting the right people in the right places to execute our focused growth strategy. Yahoo! has an extraordinarily skilled and experienced group of senior executives, and we're adding outside senior talent to this already strong team. Our new structure gives us the opportunity to draw more fully on Yahoo!'s deep bench of talent, both at the new group level and down through the organization, while also increasing accountability, reducing bottlenecks and speeding decision-making. We'll also continue to drive sustained innovation by recruiting, developing and retaining the best talent in our industry."
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.
"Since joining Yahoo! almost five years ago, Dan has been a driving force behind Yahoo!'s phenomenal audience and advertising growth, helping shape the development and creation of some of the most adopted and innovative services on the Web today. At the same time, he has helped build some of our most valued partner and client relationships, resulting in our strong advertising success during the last five years," said Semel. "Dan has been closely involved in our efforts to realign Yahoo!'s business for the next phase of growth, and has built a world class team under him. Dan was one of my first executive hires at Yahoo! and I am very appreciative of the friendship, leadership, vision and passion that he has brought to Yahoo!. We will all miss Dan and thank him for all he has done."
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