Three more Yahoo execs are jumping ship.
According to a report by Kara Swisher of All Things Digital, the company is in for another major round of executive losses, which includes the North American VP Hilary Schneider, US Audience head David Ko, and VP of Media Jimmy Pitaro.
It’s not clear why they are leaving and when we contacted Yahoo it wouldn’t give us any information.
Since September 2008 Yahoo has dropped from nine percent of the search market share to just over 6.3 percent; in the same time Google jumped from 80.3 percent to 84.7 percent. It’s clear that the lower the market share the lower the profits and the higher the pressure on the big wigs.
And once this started, Yahoo executives, including Chairman Terry Semel, CEO (and co-founder) Jerry Yang, and others began to leave.
According to All things Digital, Yahoo is trying to make the latest departures look an ouster. However, it claims that the reality is that CEO Carol Bartz was begging the departing executives to stay.
The report also hinted that Bartz was the reason for the departures: ” Yahoo CEO Carol Bartz’s penchant for shooting her mouth off saying colourful things is coming back to bite her,” it said.
“In recent weeks, Carol has: Annoyed Apple by saying company’s control- freakness will doom its efforts in the ad business, annoyed Alibaba’s CEO Jack Ma with some public remarks about Yahoo’s Alibaba stake and alarmed execs at search-partner Microsoft, one of whom tells Kara Swisher that “It is becoming a little unsettling.”
Another part of the reason for the departure stems from issues with the company’s partnership with Microsoft. The company brought in former Microsoft Executive Blake Irving as its Vice President and Chief Products Officer, and Mr. Irving in turn brought in many former Microsoft engineers – a move that clashed with existing execs.
In an emergency board meeting this week, the board reportedly discussed installing a second in command to Carol Bartz, which might take over from her when her 18 month current contract expires.