Saturday, May 19, 2007

Even Yahoo! Gets The Blues

CEO Semel's next turnaround task: Boost morale and keep employees from leaving

It was a bit of good news that Yahoo Chief Executive Terry Semel really needed: Following a lengthy search, the Internet company on May 15 hired a new chief financial officer to succeed Susan Decker, now head of Yahoo's key advertising group. But the appointment of Blake Jorgensen, co-founder of investment bank Thomas Weisel Partners Group Inc., also fueled renewed speculation that Yahoo! Inc. (YHOO ) might be seeking to shed assets or even get acquired as it struggles to catch up with runaway rival Google Inc. (GOOG ) Yahoo's stock fell 1.7% on an up day for the market.