Yahoo has reportedly announced the departure of its chief financial officer,
Blake Jorgensen, just days after he was quoted as saying that the internet giant
would not be opposed to a deal which could see it sell off parts of the
Jorgensen, who has been with the company since 2007, is to step down after
the company finds a replacement for him, according to reports.
Yahoo chief executive Carol Bartz wrote in her blog yesterday that there
would be a management restructuring: ‘For us working at Yahoo, it means
everything gets simpler. We’ll be able to make speedier decisions, the notorious
silos are gone, and we have a renewed focus on the customer.’
Jorgensen was responsible for investor relations and mergers and acquisitions
at the company. He joined from Thomas Weisel, the investment products company
which he co-founded, as chief operating officer, co-director of investment
banking and a member of the executive committee.
The re-organisation is the first major change under Bartz, who has been with
the company for just six weeks.
Bartz took over from Jerry Yang, the co-founder of Yahoo, who held the CEO
title for 17 months and came under heavy criticism for failing to be aggressive
in making changes to the company.
Last year Microsoft failed to takeover Yahoo in a $47.5bn bid. Steve Ballmer,
CEO of Microsoft, has said that he is no longer interested in the company, but
would like to combine forces with a technology company to create a strong
competitor to Google.
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