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Yahoo Wants To Boost Its Finances

And hires new chief financial officer

By Bogdan Popa, Security and Search Engines Editor

15th of May 2007, 14:45 GMT

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Yahoo hired a new chief financial officer after the company named Blake Jorgensen the new leader of the financial domain. The 47-year-old man, who will replace Susan Decker, is the co-founder of investment bank Thomas Weisel Partners. The Houston Chronicle reported that Jorgensen would begin the new job at Yahoo on June 4. "The move to put her in the crucial role of fixing the company's ad system was widely seen as making her a prime candidate to succeed as Yahoo's chief executive. At Thomas Weisel, he served as chief operating officer, co-director of investment banking and a member of the executive committee," the same source reported.

As you might know, Yahoo has suffered a lot in the last year because the company recorded several departures, especially in the Chinese offices where even the local president left the firm. The Chinese expansion was quite a powerful hit for the Sunnyvale company because Yahoo was forced to prepare an internal reorganization able to revamp the firm.

At this time, Yahoo fights with Google for numerous Internet solutions such as the mail services or the search technologies. In comparison with Yahoo, Google managed to attract an impressive number of customers that boosted the company's profits. However, Yahoo remains a powerful companies and this is proved even by the recent statistics that reveal the success of the firm. For example, Hitwise recently released a market research that sustained Yahoo Mail is more popular than Gmail, the Google mail product being beat even by Hotmail.

In the recent period, Yahoo made quite a few acquisitions, in comparison with the search giant Google that bought numerous companies. One of the latest Yahoo acquisitions was MyBlogLog, a blog service that can increase the company's presence in this market currently leaded by Google.

TAGS:

yahoo | finance | hire | employee

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