Is Ken Goldman New Yahoo CFO Its Messiah?
Yahoo! Hired in Ken Goldman as its new chief financial officer (CFO), in a bid to redeem the internet pioneer’s fading glory in a sector it once reigned.
Ken Goldman begins work on Oct. 22 replacing CFO Tim Morse, once acting CEO, hired in 2009 by then CEO Carol Bartz.
Goldman will be responsible for Yahoo!’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations and reporting directly to CEO Marissa Mayer.
Over 25 Years Experience Mostly as CFO
According to Mayer, Yahoo‘s third CEO in nearly a year, “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!” .
She added that his financial strategy and stewardship track record at the helm of several successful public and private companies singles him out as the ideal choice for the firm in what she said the firms next phase of growth.
A leading software industry veteran in Silicon Valley with over 30 years in charge of operations, financial and business management, Goldman was also pleased to join the firm.
“I look forward to working with Marissa and the rest of the executive team as we define Yahoo!’s future.”
Goldman leaves Fortinet where he was also CFO, prior spending over five years as senior VP of finance and administration and CFO of the now Oracle acquired Siebel Systems and previously as CFO at Excite@Home, Sybase, Cypress Semiconductor and VLSI Technology.
Turn Around Points or House Cleaning
Mayer was Tuesday supposed to announce her plans to make Yahoo shine again but the entry of Goldman could be one turn around factor or just house cleaning. A number of other top executives have left including former interim CEO Ross Levinsohn. Others include former CMO Mollie Spillman, execs Wayne Powers and Jim Heckman.
