Yahoo Revamp Leaves Braun, Rosensweig Out of Jobs

Dec 6, 2006  •  Post A Comment

Yahoo media group chief, Lloyd Braun, a former ABC executive, left the Web company after a broad restructuring that reduced his power. The executive shuffle is part of Yahoo’s efforts to clean house following financial struggles this year.

The management changes followed a board meeting Tuesday. Dan Rosensweig, the company’s chief operating officer, is leaving the company too. Yahoo executive David Katz, in charge of sports and studio content, had left Monday.

Yahoo has failed to keep pace with Google in nearly every area, with profits plunging in the third quarter while Google’s soared. Yahoo’s efforts to introduce a new Web search advertising system have been delayed, and the company’s ad revenues in key categories have fallen. Some of Yahoo’s efforts to right the ship have been tepidly received, such as a redesign of Yahoo TV that drew negative reviews from Internet users.

Mr. Braun joined Yahoo two years ago and struggled to move the company into a leadership position in creating original online content despite landing several high-profile deals to stream television shows.

In a statement, Yahoo said it is reorganizing the company to align its operations according to audiences, technology, advertisers and publishers.

“We plan to drive growth and profitability by leveraging our deep audience insights to create a full-fledged advertising network, with a marketplace that meets supply and demand both on Yahoo’s valuable owned-and-operated network and across the entire Internet,” said Terry Semel, Yahoo chairman and CEO, in a statement.

Mr. Rosensweig will stay on until the end of March, and the company is looking for a new chief financial officer as the current chief financial officer, Susan Decker, takes a new post as head of the advertisers and publishers group at Yahoo. She’ll serve as CFO in the interim. The restructuring should be complete by the end of the first quarter.