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Yahoo names Ken Goldman as new CFO

CEO Marissa Mayer continues hiring spree that started last month

Financial trends and news by Steven Loeb
September 25, 2012 | Comments
Short URL: http://vator.tv/n/2a6f

Marissa Mayer has been hiring people from all over the tech industry to fill out the ranks at Yahoo since becoming CEO, in an attempt to sweep out the cobwebs from the failure of the last administration.

Yahoo has hired Ken Goldman as its new chief financial officer, the company announced Tuesday.

Goldman will be replacing outgoing CFO Tim Morse, who has been working at Yahoo since June 2009. Morse will leave the company next month, and Goldman will begin serving on October 22nd.

No reason was given for Morse’s departure, and it was not clear if he has resigned or if had been asked to leave, though Mayer did call him “a trusted leader” and said that she “personally relied on Tim's knowledge and leadership” during her first few months as CEO.

A Yahoo spokesperson would not comment on the the terms of Morse’s departure.

As the new CFO, Goldman will be responsible for Yahoo's global finance functions, including financial planning and analysis, controllership, tax, treasury, and investor relations. Goldman will report directly to Mayer.

"Yahoo! is an iconic brand with an incredibly strong business model and balance sheet," Goldman said in a statement.

"I believe there is a lot of runway ahead for this business, and I look forward to working with Marissa and the rest of the executive team as we define Yahoo's future."

Goldman has years of experience as a CFO. He previously the position at Fortinet, a threat management company. He was also CFO of Siebel Systems, Excite@Home, Sybase, Cypress Semiconductor and VLSI Technology.

He was also named among America's 15 Most Connected Capitalists by Forbes magazine.

"Ken is one of the most accomplished and respected financial executives in the technology industry having served as a CFO for more than 25 years, and we're thrilled to have him join Yahoo,” Yahoo CEO Marissa Mayer said in a statement.

"His track record leading the financial strategy and stewardship of many successful public and private companies makes him an ideal choice for Yahoo as we enter our next phase of growth."

Yahoo’s recent hires

Since Marissa Mayer took over the reigns as CEO, Yahoo has hired a slew of new people.

Mayer brought in former Google product marketing manager Andrew Schulte to be her new chief of staff. Mayer also hired Anne Espiritu, who ran consumer technology PR for Google, to handle corporate communications.

In August, Mayer hired Kathy Savitt as the new CMO at Yahoo.

Savitt was previously the founder and CEO of social commerce website Lockerz, and had been executive VP and CMO of American Eagle and a senior executive at Amazon.

In September, Jacqueline Reses has been appointed executive vice president of people and development. Reses previously worked at Goldman Sachs for seven years, before leading the U.S. media group at Apax Partners.

It was also rumored in August that Mayer was attempted to woo Katie Jacobs Stanton, Twitter’s VP of international strategy, for an unspecified position at Yahoo.

(Image source: http://www.gettyimages.com)


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Marissa Mayer
CEO,
Yahoo
Bio: Marissa leads the company's product management efforts on search products – web search, images, news, books, products, maps, Google...

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