Tuesday, August 28, 2012

Yahoo! Inc.(NASDAQ:YHOO) Gets new Marketing Head

Yahoo! Inc.(NASDAQ:YHOO)’s  new boss, Marissa Mayer, is getting a new marketing head for the company to help her in her mandate to turn around the company and ring it back into the top league.

Kathy Savitt, 48, will take over as the new marketing chief of Yahoo on September 14, leaving her four-year old e-commerce company Lockerz, where she will however continue to be the Chairman.

Mayer has managed to persuade Savitt to leave her company for some time and join Yahoo, which has been struggling to sustain itself while younger rivals like Google and Facebook have overtaken it.

It started out as an Internet company with a lot of promise giving stiff competition to Microsoft's MSN portal, with a robust search engine and a web-based mail services.

It was one of the few Internet portals to survive the dotcom bust in early 2000. Its Yahoo Mail is still among the top three preferred email service providers after Hotmail and Gmail but has been cash-strapped for some time now.

Mayer was brought in about six weeks back from Google to script a turnaround for the company. The stock has dipped nearly 9 percent in 2012 so far, with most of the losses coming in the last one month.

Part of its problems can be attributed to the turmoil at the top with five CEOs in as many years. Mayer is the fifth CEO and there are a lot of expectations riding on her to bring the company back to profitability.

Savitt was a marketing and communications professional with American Eagle Outfitters and Amazon before launching Lockerz.

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