Yahoo’s new CEO Carol Bartz is streamlining the company and picking which executives will remain on her team and which ones won’t. Chief Financial officer Blake Jorgensen will be departing, as will the head of Yahoo Mobile, Marco Boerries, among others. Getting a bump up are Ari Balogh, now CTO and head of all products, and Hilary Schneider on the advertising side, now head of North America. David Ko will be taking over mobile, reporting to Schneider interestingly enough rather than to Balogh. In her first blog post, Bartz writes:
So today I’m rolling out a new management structure that I believe will make Yahoo! a lot faster on its feet. 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. For you using Yahoo! every day, it will better enable us to deliver products that make you say, “Wow.”
In addition to getting rid of unnecessary layers of management (and, oh boy, does Yahoo have plenty of that), Bartz also says that she is going to get the company to pay more attention to its customers and to burnishing its brand. To that effect, she is creating a “Customer Advocacy” group to speak for the customer inside Yahoo, and she promises to clarify “what the Yahoo! brand stands for. . . . Look for this company’s brand to kick ass again.”
In a note that just went out, Barclays Capital analyst Doug Anmuth says of the CFO’s departure:
We are not surprised by Jorgensen’s departure given that he was largely brought into the company by Sue Decker who left YHOO upon new CEO Carol Bartz’s recent appointment. However, we are increasingly concerned about Yahoo!’s thinning management ranks & about who internally will help guide new CEO Bartz as she moves deeper into the Internet space & soon makes critical strategic decisions for the company.
In other words, where are the star hires? (Note that Bartz has hired a new Chief marketing officer in Elisa Steele).