Greg Coleman will be replaced by Hilary Schneider, who previously worked in Knight Ridder and Red Herring. The news first broke out when Yahoo! Chief financial officer, Susan Decker sent a memo to the team.
In the official Yahoo! press center, Decker says, "Hilary has extensive experience in both the operational and technological aspects of classifieds and media businesses that will enable her to provide important strategic direction to our new Marketplaces group. By organizing all of these properties under Hilary's leadership, we believe that we are ideally positioned to leverage our current assets to take advantage of the significant growth potential in this large and rapidly growing online space."
Some of the more interesting features of the memo are:
- Jerry and I and the rest of the management team have been taking a close look at our business .
- Coleman is leaving but will stay for the transition until Feb next year.
- We are placing responsibility for all of our Ă˘â‚¬Ĺ“partnersĂ˘â‚¬Âť Ă˘â‚¬â€ś advertisers, agencies, resellers, publishers, ad networks, developers, or others–in a new division called, Global Partner Solutions (GPS), under the leadership of Hilary Schneider.
- Business development deals for Mobile and content the will continue to be led by Connected Life and the Yahoo! Network Division, respectively, and will work in close coordination with GPS.
- The organizational changes that will accompany this change are to move Global Sales, the Online Channel, the Yahoo! Publisher Network, Corporate Partnerships and Hot Jobs under the single umbrella of Global Partner Solutions. Reporting to Hilary will be David Karnstedt Ă˘â‚¬â€ś SVP, North American Sales; Jacki Kelley Ă˘â‚¬â€ś VP, Sales Strategy; Dan Foehner Ă˘â‚¬â€ś VP, Worldwide Sales Operations; Mark Rabe Ă˘â‚¬â€ś VP, Cross Border Sales; Rich Riley Ă˘â‚¬â€ś SVP, Online Channel Division; Todd Teresi Ă˘â‚¬â€ś SVP, Yahoo! Publisher Network; Jim Schinella Ă˘â‚¬â€ś SVP, Corporate Partnerships; and Jeff Kinder Ă˘â‚¬â€ś SVP/GM, Hot Jobs.
- We are moving the properties in the Local Markets and Commerce Division (LMC), excluding HotJobs, from HilaryĂ˘â‚¬â„˘s organization into the Yahoo! Network Division under Jeff WeinerĂ˘â‚¬â„˘s strong leadership.
- Jen Dulski will continue to lead Shopping, Travel, Auto, Real Estate and Local under Jeff and Anna Zornosa will continue to lead Personals.
- The engineering function will also moved to align with the product team and will report into Venkat Panchapakesan.
To read the entire memo, click here.