Troubled Yahoo gets a new CFO
Yahoo will replace CFO Tim Morse this fall in what may be the latest move by recently appointed CEO Marissa Mayer to put her own mark on the company’s leadership.
Morse will be replaced by Ken Goldman, who has more than 25 years of experience as CFO for multiple computer industry companies, including Fortinet, Siebel Systems, Excite@Home and Sybase. He will join Yahoo in late October.
Goldman will report to Mayer, who was appointed as CEO in July after a sterling career with Google.
Morse joined Yahoo in 2009 when Carol Bartz was the CEO. He served as interim CEO after Bartz was fired in September of last year, until her replacement, Scott Thompson, came on board in January of this year.
Thompson’s tenure was brief, however, lasting less than six months following a controversy about his college education credentials. Specifically, he didn’t have a computer science degree, contradicting his public professional biography. Reports later emerged that his resignation was due instead to a cancer diagnosis.
In between Thompson’s departure and Mayer’s appointment, Yahoo was led by interim CEO Ross Levinsohn, a Yahoo executive vice president and head of Global Media. He left shortly after Mayer’s arrival.
A Yahoo spokeswoman declined to comment on the reasons for Morse’s replacement. In a statement, Mayer called him “a trusted leader” at Yahoo who has “expertly guided” the company through some key periods and deals.
“I’ve personally relied on Tim’s knowledge and leadership in my first few months at Yahoo. I know I speak for everyone in wishing him the best,” Mayer said.
Yahoo has been on a years-long financial and technology slump, going through several executive shake-ups and rounds of layoffs.
Mayer’s appointment has been generally viewed with optimism. Also on Tuesday, multiple news outlets reported that Mayer addressed Yahoo’s staff and gave them details about her turnaround plan for the company. The Yahoo spokeswoman also declined to comment on those reports.