Spencer Stuart, the executive talent firm is pulling out all stops by looking for a COO for Yahoo! Inc. (NASDAQ:YHOO), with turnaround experience. This will probably be a big step for Yahoo after the arrival of CEO Marissa Mayer from Google. Mayer has applied quite a lot of strategies in her current company like free food, screened recruiting processes, and weekly all-hands meeting, which prevailed in her prior workplace.
The COO will also need to concentrate on finance and restructuring. Although speculation is rife as to the role Mayer is playing in the hiring of a new COO, it is being said that the latter will focus on the business development and oversee the turnaround times for projects, whereas the former will preside over product and innovation, which are her core areas of strength.
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Another hi-profile hiring took place in Facebook too, when COO Sheryl Sandberg was roped in to man the business side of the social networking site. The recruitment of the COO in Yahoo is happening at a crucial time, because this company has stretched itself thin and Wall Street investors are keeping a watch as to how Mayer revamps the structure. Apparently, Mayer might not be able to fulfill her promise of returning a $4 billion-plus cash windfall to shareholders after some assets were sold in
The stock plummeted quickly after this announcement because Mayer’s statement
was extremely vague.
Mayer has approached former colleagues for the position such as Googler Katie Jacobs Stanton, who is now managing international efforts in Twitter. Some high profile departures have also taken place in Yahoo after Mayer came on board such as interim CEO Ross Levinsohn and HR head David Windley. No one from Yahoo has commented on the hiring yet, even though numerous theories are already doing the rounds.