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July 18, 2010 Gannett, Yahoo in Local Ad Partnership Gannett and Yahoo announced a local advertising partnership that brings together Gannett's strong local media organization brands, sales capabilities, and leading website audiences with Yahoo's high quality audience and display advertising leadership.All of Gannett's 81 local newspaper sites and seven of its Broadcasting Division sites will sell Yahoo advertising inventory as part of Gannett's local advertising solutions. As a result, local advertisers will benefit from expanded digital reach and audience targeting capabilities based on geography, user demographics, interests, and more against that expanded audience. In addition, Gannett will be leveraging the targeting and ad ordering capabilities of the APT from Yahoo platform for local sales. This partnership will extend Gannett's local media organization reach to cover as much as 80% of the total digital audience in each market. "This partnership builds on the strength of Gannett's growing digital business and powerful local brands," says Gracia Martore, president, chief operating officer and chief financial officer at Gannett. "Working with Yahoo will allow us to offer targeted advertising messages with unmatched local audience reach." As part of the agreement, Gannett may also provide select local content for programming across Yahoo properties in the U.S., including the Yahoo homepage. A phased rollout will begin this quarter and will continue into 2011. July 9, 2010 Zillow to Power Yahoo Real Estate Portal Yahoo is partnering with Zillow to power all of the real estate listings on its site.Once the integration of Zillow's more than 4 million for-sale listings is complete, home shoppers using Yahoo Real Estate (realestate.yahoo.com) will continue to search for homes by geography, price and other criteria. The home shopping experience for Zillow's users will not change. The financial terms of the partnership were not disclosed. Although the partnership is expected to go into effect later this year, Zillow and Yahoo! Real Estate are immediately coordinating sales efforts for the advertising network. Upon full implementation, real estate agents and brokers who advertise and place their listings on the sites will receive greater value and simplicity in several key ways. July 1, 2010 Yahoo to Buy Back $3 Billion in Stock Yahoo announced in regulatory filings with the SEC that its Board of Directors agreed to purchase up to $3 billion of its outstanding shares of common stock over the next three years.The stock purchase could help boost the price of Yahoo shares, which have lagged competitors like Google over the past several years. The purchases may take place on the open market or through privately negotiated transactions. May 25, 2010 Yahoo, Nokia Form Partnership Yahoo and cellphone maker Nokia announced a worldwide partnership. Building on more than five years of collaboration, Nokia and Yahoo will leverage each others' strengths in e-mail, instant messaging and maps and navigation services, to provide consumers with access to world-class experiences on both PC and mobile devices.As part of the alliance:
"Delivering great user experiences - both online and on your mobile - is what this alliance is all about," said Olli-Pekka Kallasvuo, CEO, Nokia. "We're enabling millions of Yahoo customers in key markets including North America to discover the unique capabilities that Ovi Maps brings. Similarly, Yahoo's online expertise will bring exciting mail and messaging enhancements to millions of Ovi Mail customers across almost every country around the world, many of whom will have their first Internet experience on their mobile." "What a combination," said Carol Bartz, CEO, Yahoo. "We're excited to expand the reach of our best-in-class Mail and Messenger services, bringing personalized experiences to more people across the mobile Web, particularly in emerging markets where we are seeding the next generation of Yahoo users. At the same time, we believe Nokia's strength and continued investment in maps and navigation will greatly enhance our existing products, enabling us to focus on areas that are core to our business." May 13, 2010 Santa Clara Approves New Yahoo HQ The city of Santa Clara has approved plans for Yahoo to build a new headquarters campus at 5010 Old Ironsides Drive.The massive three-million square foot campus would be located about 10 miles from Google's own headquarters and house up to 12,000 employees in 13 six-story buildings. The company's current headquarters is located in Sunnvale near Moffett Airfield. No date has been announced on when construction would begin for the new Yahoo campus and when it would be completed. April 9, 2010 Yahoo CTO Steps Down Ari Balogh, Yahoo's Chief Technology Officer, is leaving the search engine and portal on June 3 for personal reasons according to Reuters.Balogh joined the company in February 2008 and is leaving due to a family situation. His full title at Yahoo is executive vice president of Products and Chief Technology Officer. In this role Balogh leads the company's Products organization, which is responsible for the vision, strategy, design and development of Yahoo's global consumer and advertiser product portfolio. Yahoo is expected to name a replacement within the next few weeks. March 18, 2010 Yahoo Buys Citizen Sports Yahoo has agreed to buy Citizen Sports, a San Francisco company that brings the world of sports to fans' favorite social networking sites and mobile devices through innovative applications. This acquisition will strengthen Yahoo's social strategy of enriching, aggregating and distributing social content from across the entire Web, and offering a highly customizable social experience."Yahoo is in a unique position to combine our deep expertise in content and aggregation technology to offer a highly personalized social experience," said Bryan Lamkin, senior vice president, Consumer Products Group, Yahoo. "Sports has been among the earliest online categories to experience rapid social proliferation, and the combination of Citizen Sports leading products with our world-class sports experience on Yahoo Sports is a win-win for sports fans globally." Millions of people across the globe use Citizen Sports' array of social and mobile products to play fantasy sports, fill out brackets, check live scores and read up-to-the minute news on sports including football, hockey, soccer, baseball, racing, rugby, hockey and cricket. Yahoo Sports' content will be integrated into these products, creating a seamless experience for sports fans wherever they are. On Yahoo! Sports, users will be able to broadcast their allegiances, create or join a conversation with friends and fans and cheer for their teams through Citizen Sports' applications. This integration will further transform Yahoo into a more personally relevant experience, drive deeper user engagement and create opportunities for advertisers to interact with audiences in new environments. As the #1 destination for online Sports with more than 39 million monthly unique users in the U.S., Yahoo! Sports provides people with the most timely, relevant and comprehensive sports news, information and programming. Citizen Sports' network of popular applications for Facebook, MySpace, hi5, iPhone and Android span professional, college and high school sports. Citizen Sports was founded by Mike Kerns and Jeff Ma in 2004. Ma is best known for being a blackjack card counter from MIT which was the subject of the book Bringing Down the House and the subsequent movie 21. February 20, 2010 Olympic Search Terms Soar on Yahoo The 2010 Winter Olympics in Vancouver is triggering a surge in related search traffic reports Yahoo.You've seen them during coverage of the competitions. Whenever anybody waves to the camera, they're impossible to miss. They're the bright red Canadian mittens, and it seems like everybody wants them. Since the games began last week, searches on Yahoo! for "olympic mittens" (up 176% this week) have been soaring. Related searches about "red olympic mittens, (up 182% this week)" "canadian olympic mittens," and "where to buy olympic mittens" surged from nothing into breakout status in the Buzz. Could figure skating impact the music world? Searches on Yahoo are spiking for music associated with figure skating competitions. Yahoo is seeing searches related to the song choices that skaters are skating to, including a song by Queen and “the Firebird Suite.” The Winter Games’ obsession is taking over the web. People seem to have caught the winter sports bug and are searching for anything and everything related to the athletes.
Individual sports are also garnering searches online:
February 18, 2010 Yahoo-Microsoft Search Deal Gets the OK Microsoft and Yahoo announced that they have received clearance for their search agreement, without restrictions, from both the U.S. Department of Justice and the European Commission, and will now turn their attention to beginning the process of implementing the deal.Implementation of the deal is expected to begin in the coming days and will involve transitioning Yahoo's algorithmic and paid search platforms to Microsoft, with Yahoo becoming the exclusive relationship sales force for both companies' premium search advertisers globally. Once the transition is completed, the companies' unified search marketplace will deliver improved innovation for consumers, better volume and efficiency for advertisers and better monetization opportunities for web publishers through a platform that contains a larger pool of search queries. "This breakthrough search alliance means Yahoo can focus even more on our own innovative search experience," said Yahoo Chief Executive Officer Carol Bartz. "Yahoo gets to do what we do best: combine our science and technology with compelling content to build personally relevant online experiences for our users and customers." Microsoft CEO Steve Ballmer agreed with Bartz. "Although we are just at the beginning of this process, we have reached an exciting milestone," Ballmer said. "I believe that together, Microsoft and Yahoo will promote more choice, better value and greater innovation to our customers as well as to advertisers and publishers." Under terms of the agreement, which was announced in late July 2009, Microsoft will provide Yahoo with the same search result listings available through Bing, and Yahoo will add its content, enhanced listings with organized information about key topics, and tools to tailor the experience for Yahoo users. February 4, 2010 Yahoo Sells HotJobs for $225 Million Yahoo has sold its recruiting site HotJobs.com to Monster Worldwide for $225 million. Yahoo had purchased HotJobs in 2002 for $436 million. Monster and Yahoo have also entered into a three year commercial traffic agreement, to take effect upon the closing of the acquisition, in which Monster will become Yahoo's provider of career and job content on the Yahoo homepage in the United States and Canada. The traffic agreement calls for performance based annual payments calculated by clicks and expressions of interest, subject to annual floors and ceilings. In addition, the traffic agreement provides Monster with an exclusive right for a period of time following the closing of the acquisition to negotiate similar traffic agreements with Yahoo properties on a global basis, including countries in Europe, Asia and Latin America, subject to certain limitations. "HotJobs with its significant customer base plus the traffic agreement are an ideal complement to Monster's innovative recruitment solutions and global reach," said Sal Iannuzzi, chairman, chief executive officer and president of Monster Worldwide. "These agreements, combined with Monster's career Communities and our recently introduced 6Sense semantic search technology, will bring substantial new benefits for employers seeking more qualified candidates and job seekers searching for more relevant opportunities across a wider range of industries - globally." "Bringing together Monster and HotJobs creates even greater access and opportunities for both recruiters and job seekers," said Hilary Schneider, EVP, Yahoo. "The transaction with Monster enables us to continue to provide an important service to our users through the traffic agreement. Yahoo remains focused on its core businesses and delivering exceptional experiences to users, partners and advertisers." January 8, 2010 Yahoo Promotes Web TV Widgets Yahoo is promoting connected TVs with partnerships for its Yahoo Widget Engine. New partnerships with Hisense, ViewSonic, MIPS Technologies, and Sigma Designs will dramatically increase the availability of the Yahoo Widget Engine, delivering compelling TV Widget experiences to more televisions and other consumer electronic devices which will begin shipping as soon as March. Yahoo TV Widgets now work on all major consumer electronic device chip architectures worldwide. Reinforcing the company's open strategy in this space, Yahoo! also broadly released its Widget Development Kit (WDK) today, enabling developers to create TV Widgets and effectively reach millions of consumers. "Consumers are in love with their televisions, watching more TV, and demanding Internet connectivity to further enhance their viewing experience," said Arlo Rose, senior director of Yahoo! Connected TV. "Yahoo! is leading the connected TV market by bringing a rich variety of Internet content and services to the living room -- incorporating video on demand, social networks, games, online shopping, and more -- making it easy for consumers to personalize their TV viewing experience." Building on the company's existing distribution partnerships with Sony, LG Electronics, VIZIO and Samsung across North America and Europe, Yahoo! is expanding the availability of the TV Widget experience globally by embedding the Yahoo! Widget Engine in an even greater number of television models and a variety of new consumer electronics devices. New partnerships and noteworthy developments include: * VIZIO's XVT Series Connected HDTVs with VIZIO Internet Apps incorporate the Yahoo! Widget Engine and will be available at retailers throughout the U.S. in Q1. Taking unique advantage of the Yahoo! Widget Engine, VIZIO's Connected HDTVs provide consumers with unprecedented choice, convenience, and control of an ever-increasing array of Internet content and services, as well as intuitive and simple access to the TVs' settings through the Widget dock. * Hisense International Co, Ltd., a world leading provider of flat panel TVs, household appliances, and mobile communications, announced a partnership with global Internet brand Yahoo!(R) Inc. to integrate the Yahoo! Widget Engine into Hisense Internet-Connected TVs that will ship across the U.S. and Europe. * ViewSonic will provide customers with an interactive, connected TV experience via the ViewSonic VMP80 media player. Powered by the Yahoo! Widget Engine, the ViewSonic VMP80 media player will enable current HDTV owners to view movies, TV shows, Web videos, and photos; and to go shopping, play games, and more with TV Widgets. The VMP80 media player will ship in Q1 2010 for an estimated MSRP of US$159. * MIPS Technologies, Inc., a leading provider of industry-standard processor architectures and cores for digital consumer, home networking, wireless, communications, and business applications, today announced plans to develop an optimized Yahoo! Widget Engine for MIPS-Based(TM) digital home devices. MIPS will develop an optimized reference platform running the Yahoo! Widget Engine for digital TV and set-top box applications. Leveraging this reference implementation, MIPS(R) licensees will be able to quickly develop devices incorporating Yahoo! TV Widgets. * Sigma Designs announced plans to support the Yahoo! Widget Engine on its media processors, which will enable manufacturers to easily support Yahoo! Connected TV in a wide array of consumer electronic devices, including Blu-ray players, network players, AV receivers, and cable/IPTV set-top boxes. December 23, 2009 Yahoo Shutting Down for One Week Yahoo is shutting down non-essential offices for the week after Christmas to save money. According to The Wall Street Journal, the search engine will have a worldwie shutdown of non-essential personnel from Dec. 25 to Jan. 1. Workers can take paid vacation or use unpaid leave during this week. The move benefits the company's bottom line by reducing vacation liability. Yahoo has laid off nearly 700 people this year and got rid of services that were not making money. Yahoo won't be the only company in Silicon Valley with the week off. Adobe and Apple are also closing down for the week but will staff customer support and essential services. December 3, 2009 Michael Jackson Tops Yahoo Searches Michael Jackson was the most popular search term on Yahoo for 2009 following the pop icon's surprising death this year. "We saw consumers escape to the Web hoping to pursue news and their guilty pleasures: vampires, political implosions, how to moonwalk -- you name it, people went online to find it," said Vera Chan, a Yahoo! Search trend analyst. "And with economic uncertainty looming, people looked for ways to find stability by searching the Web for new jobs, unemployment benefits, and ways to save through old-fashioned coupon hunting." The King of Pop knocked the pop princess off her Search perch in 2009. Britney Spears -- who dominated Yahoo's Top 10 Overall Searches for the past four years -- dropped from the No. 1 position to No. 5 this year, behind Michael Jackson, the book and film series "Twilight," World Wrestling Entertainment, and rising star Megan Fox. Michael Jackson's death broke many records on Yahoo. His memorial was the single most streamed event in Yahoo's history, with five million total streams. The popularity of "Twilight" hit an all-time high in 2009 -- with every "Twilight" book, DVD, and soundtrack release; and with every piece of cast gossip, massive numbers of "Twilighters" went online to search for more. Top 10 Overall Searches for 2009 1. Michael Jackson Top 10 Yahoo Mobile Searches for 2009 1. Megan Fox Top 10 Economy-Related Searches for 2009 1. Coupons November 25, 2009 Yahoo Planning New Campus Yahoo has submitted plans to build a new headquarters campus in Santa Clara that could accommodate as many as 12,000 workers. According to the Mercury News, Yahoo wants to build a complex with 13 six-story office buildings and a large underground parking garage. The total campus would be on 48 acres of land. The project would be the largest single real estate development in Santa Clara's history. The Santa Clara site was purchased by Yahoo in 2006. It is currently occupied by a cluster of mostly vacant office buildings, a short distance from the Santa Clara Convention Center and the site of a proposed stadium for the San Francisco 49ers. Yahoo's current headquarters is in Santa Clara near the Ames Research Center. No timetable was given on when construction would begin or be completed. October 21, 2009 Yahoo Revenues Drop in Third Quarter Yahoo reported revenues of $1.575 billion for the quarter ended September 30, 2009, a decrease of 12 percent from the third quarter of 2008 but slightly above the second quarter of 2009. Excluding the impact of currency rate fluctuations and divested business lines, revenues for the third quarter of 2009 would have declined 7 percent compared to the third quarter of 2008. The company reported net income of $186 million, up 244% from a year ago. “With revenue coming in above our guidance and flat sequentially, we had a solid third quarter that signals our major businesses have stabilized,” said Yahoo CEO Carol Bartz. “With new products like Yahoo! homepage, our brand revitalization campaign and expansion in the Middle East through Maktoob.com, our execution is improving and we’re focused on what we do best — being the center of people’s online lives.” “In the third quarter we saw strength in key areas of our business,” said Yahoo chief financial officer Tim Morse. “Our efforts to reposition Yahoo! are still in the early stages, but we’re confident that our investments in the business will enable us to capitalize on growth opportunities as the economy recovers.” Bartz did not make an appearance on the company's conference call due to illness. She also canceled an appearance at Web 2.0 conference in San Francisco. September 11, 2009 Yahoo Offers New Mobile Apps Yahoo introduced this week several mobile apps for popular services on its sites. You can now have Yahoo Finance, Yahoo Fantasy Football and photo site Flickr, with much of the same interactivity as on the PC, on your iPhone or iPod touch (via the App Store) and select BlackBerry models (Bold, Tour, and 8900 series). The new Yahoo Finance app helps you stay on top of the market, your portfolio, and the latest news, research, and analysis with powerful interactivity. The app lets you: * Follow the broad market indices or a specific company The Finance and Fantasy Football apps are available in English for the U.S. and Canada with more languages coming in the next few months. The new Flickr app is available in English, French and traditional Chinese for the U.S., Canada, UK, France, Hong Kong, and Singapore. September 2, 2009 Yahoo Buys Maktoob Yahoo has acquired Maktoob.com, the leading online community in the Arab world, with more than 16.5 million unique users. Financial terms weren't released. "This acquisition will accelerate Yahoo's strategy of expanding in high-growth emerging markets where we believe Yahoo has unparalleled opportunity to become the destination of choice for consumers," said chief executive officer Carol Bartz. "Access to information and communications tools can positively impact people's lives in many ways, and with the acquisition of Maktoob.com and our investment in the region, the Arab world will soon get a Yahoo experience in Arabic with relevant local language content, programming and services." Maktoob.com was founded in 2000 by Samih Toukan and Hussam Khoury as the world's first free Arabic/English Web-based email service, and since then has grown to be the leading Arab online community in the region. July 30, 2009 Micro-hoo Search Deal is On After failing to agree on a merger last year, Microsoft and Yahoo have come to terms on a long-anticipated deal where Microsoft's search technology will replace Yahoo's own search engine in exchange for Yahoo overseeing ad sales on the search results. Under this agreement, Yahoo will focus on its core business of providing consumers with great experiences with the world's favorite online destinations and Web products. "This agreement comes with boatloads of value for Yahoo, our users, and the industry, and I believe it establishes the foundation for a new era of Internet innovation and development," said Yahoo Chief Executive Officer Carol Bartz. "Users will continue to experience search as a vital part of their Yahoo experiences and will enjoy increased innovation thanks to the scale and resources this deal provides. Advertisers will also benefit from scale and enjoy greater ease of use and efficiencies working with a single platform and sales team for premium advertisers. Finally, this deal will help us increase our investments in priority areas in winning audience properties, display advertising capabilities and mobile experiences." Microsoft Chief Executive Officer Steve Ballmer said the agreement will provide Microsoft's search engine, Bing, the scale necessary to more effectively compete, attracting more users and advertisers, which in turn will lead to more relevant ads and search results. "Through this agreement with Yahoo, we will create more innovation in search, better value for advertisers and real consumer choice in a market currently dominated by a single company," said Ballmer. "Success in search requires both innovation and scale. With our new Bing search platform, we've created breakthrough innovation and features. This agreement with Yahoo will provide the scale we need to deliver even more rapid advances in relevancy and usefulness. Microsoft and Yahoo know there's so much more that search could be. This agreement gives us the scale and resources to create the future of search." The key terms of the agreement are as follows: * The term of the agreement is 10 years; July 23, 2009 Yahoo Offers New Home Page Yahoo has redesigned its homepage that brings together the best of the Web with the best of Yahoo in a single destination across both PC and mobile screens. With the new Yahoo homepage, people can easily add apps - from Yahoo or virtually any other site on the Web - and access them from their computer or mobile devices so that their favorite content, services and experiences are always at their fingertips. The new Yahoo! homepage is available in the U.S. at http://yahoo.com/trynew and will roll-out in France, India, the UK, and on mobile devices over the coming week. The revamp represents the most significant change to the Yahoo homepage since the company's inception. By enabling this level of personalization, Yahoo allows people to get more done, faster, all in a single place. This launch is a major milestone in what the company calls the Yahoo Open Strategy, which seeks to mesh the Yahoo experience with the best online content and services. "People are living more of their lives online - in the U.S., the average person visits a staggering 85 sites a month. Whether for the PC or a mobile device, Yahoo! is bringing greater simplicity and relevance to the way people experience the Web," said Ari Balogh, executive vice president of products & chief technology officer. "By focusing on what people have told us they want, our new homepage is designed to help them stay on top of what is going on in their world, and in the rest of the world." July 10, 2009 Yahoo Debuts Search Pad Yahoo has introduced this week Search Pad beta, a feature that lets people capture, organize, save and share information they find while researching online. Search Pad provides a new search experience that is especially valuable for people conducting extensive research in categories such as academic, health, jobs, travel, or shopping. Once activated, Search Pad automatically saves recent items, including links in one integrated notepad that stays with them as they search. People can edit their notes and then print, save, email, or share their Search Pad documents with family, friends, colleagues or anyone else, eliminating the need for others to do the same research. "At Yahoo Search we are committed to understanding people's intent and building the right tools to help them complete their most important tasks online," said Larry Cornett, vice president of consumer products, Yahoo Search. "With Search Pad, Yahoo is providing an elegant solution that understands when valuable research is being conducted and offers a way to effortlessly gather information in one place. Yahoo! Search Pad helps people make decisions, save their work, and share the best with friends and colleagues." Available only on Yahoo Search, Search Pad has a host of features that make search and research as meaningful and manageable as possible: 1) Automatic Research Detection: Understands research intent to initiate note-taking; 2) Simple Collecting: Tightly integrated into the search experience; once research begins, it automatically collects visited websites and thumbnails; 3) Organize: Easily manages research into a coherent document for quick reference with capabilities that include free form note entry, drag & drop, auto-attribution of the URL for pasted notes, and save/delete of notes and documents; 4) Share: Provides simple and useful ways to share work with friends and colleagues via print, email, publish, and a number of social networks. The new Yahoo! Search Pad feature will be rolling out to people today by searching at Yahoo.com in the United States, Canada, Australia, New Zealand, Singapore, Malaysia, Philippines, United Kingdom, France, Spain, Italy, Germany, Brazil, Mexico, and Argentina. June 15, 2009 Tim Morse Appointed Yahoo CFO Yahoo's Board of Directors has appointed Tim Morse as the company's new chief financial officer. Reporting directly to CEO Carol Bartz, Morse will be responsible for the company's finance, investor relations, and mergers and acquisitions groups. He will start work at Yahoo on June 17, 2009 and will assume the responsibilities of CFO on July 1, 2009. "Tim has a proven ability to translate strategy into structure, process, and execution, and I am delighted that he will be joining my leadership team to help drive Yahoo's growth," said Bartz. "With his passion for operational finance, global experience, and expertise simplifying complex organizations and managing growth, Tim is a natural fit for Yahoo." Morse has financial experience in both large and small organizations, managing in complex, fast-paced environments and establishing scalable, cost-effective processes and controls. Prior to joining Yahoo, he was the CFO of Altera Corporation, a semiconductor company specializing in programmable logic devices for communications, industrial, and consumer applications. Morse previously served as the CFO and general manager of business development for General Electric Plastics. A 15 year veteran of GE, he also held a variety of positions at GE Plastics, GE Appliances and GE Capital in North America, Europe and Asia. "Yahoo is an amazing brand with a unique combination of assets, and I am extremely excited to be joining a finance team with a deep commitment to financial excellence and fiscal discipline," said Morse. "I look forward to working with the entire leadership team to continue to focus on driving results and creating value for our shareholders." June 9, 2009 Eric Brown Named Yahoo Communications Chief Yahoo announced that Eric Channing Brown has been appointed senior vice president of global communications. Brown will direct the company's global communication efforts, overseeing functions that include public relations, executive communications, product promotion, public affairs, internal communications, corporate reputation management, as well as social media outreach. Brown will join the company in early July and report to Yahoo's chief marketing officer, Elisa Steele. Prior to joining Yahoo, Brown was vice president of corporate relations at NetApp, driving global communications strategies that spanned more than 30 countries. He was responsible for media relations, social media, internal communications and executive communications. Brown was integral to NetApp's recent rebranding campaign as well as instrumental to the communications program behind the company's recognition by Fortune magazine as the "Best Company to Work for in America" in 2009. Before joining NetApp, Brown was head of public relations for Adaptec and oversaw their B2B communications strategy, as well as brand and consumer public relations for the company's retail products. He has also held additional leadership positions in both corporate and agency environments. "This is such a pivotal time to join Yahoo and I look forward to being a part of the team that helps the company reassert its brand relevance globally," said Brown. "Yahoo has an amazing combination of assets and I am excited to work with the talented communications team to tell the Yahoo story around the globe." Brown holds a B.A. in English with high honors from the College of William and Mary. April 22, 2009 Yahoo to Cut 5% of Workforce Yahoo announced that it will cut 5% of its workforce or up to 700 positions. The cuts are the second round in six months after the company eliminated 1,500 jobs in October. The majority of impacted employees are expected to be notified within the next two weeks. The Company said it is also continuing to implement non-headcount cost reductions. The company reported revenues of $1.58 billion for the quarter ended March 31, 2009, a decrease of 13 percent from the first quarter of 2008. Net income was $537 million for the quarter. "Yahoo is not immune to the ongoing economic downturn, but careful cost management in the first quarter allowed our operating cash flow to come in near the high end of our outlook range," said chief executive officer Carol Bartz. "While we experienced pressure in both display and search advertising in the first quarter, we believe Yahoo remains one of the most compelling advertising buys on the Internet. With our leading audience properties, substantial reach and innovative advertising solutions, we are confident Yahoo! will be well positioned when online brand advertising resumes its growth." March 25, 2009 Steele Named Chief Marketing Officer Yahoo announced that Elisa Steele has joined the company as chief marketing officer. Steele is responsible for Yahoo's brand, its global marketing strategy and its marketing functions including brand marketing, audience marketing, corporate communications, insights, policy and privacy, community affairs, and related central teams. She reports to Yahoo CEO Carol Bartz. "The Yahoo! brand is one of our most valuable and strategic assets, and Elisa is charged with unlocking its potential globally. Elisa has an outstanding track record in leading global marketing, branding, and communications teams, and we're excited to welcome her to Yahoo's executive staff," said Bartz. "Yahoo's marketing strategy and teams have become decentralized over time -- hiring Elisa in the CMO role will quickly mobilize our plan to integrate the function globally and more effectively represent the Yahoo! brand." Prior to joining Yahoo, Steele was senior vice president of corporate marketing at NetApp, where she led the company's global brand strategy including global communications, corporate relations, and integrated marketing functions. Her work at NetApp included strategically repositioning the brand in the category and a major global relaunch. "I'm excited to join the team and help unleash the incredible power of the Yahoo brand," said Steele. "I look forward to working closely with Carol and the entire organization to help renew the company's focus on its customers and to reassert the brand's relevance around the world." Steele holds a master of business administration degree from San Francisco State University and a bachelor of business administration degree from the University of New Hampshire. February 27, 2009 Yahoo Shakes Up Management Yahoo's new CEO Carol Bartz annnounced management changes for the company. CFO Blake Jorgensen is leaving the company once a replacement is found. According to SF Chronicle, Yahoo's technology and products groups will be combined under Ari Balogh, the company's chief technology officer. Geographically, Yahoo will streamline its operations into two regions, North America, led by Hilary Schneider, and international, under an executive who has yet to be named. Marco Boerries, who led Yahoo's mobile unit, has resigned. |
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