Yahoo Americas boss quits

Yahoo’s staff crisis deepened yesterday, as the head of its Americas operations became the latest senior executive to quit the firm in as many months
 
Americas senior vice president Hilary Schneider resigned yesterday along with deputies David Ko and James Pitaro, who respectively headed up the firm’s mobile and local audience, and media divisions.
 
Schneider will remain at the firm for the rest of the year to assist in finding a successor, which Yahoo hopes to appoint by Christmas, the New York Times reported.
 
The departures follow the resignation of advertising head David Ku last month after eight years with the firm, and point to increasing disquiet among managers at the web portal after chief technology evangelist Ash Patel quit earlier this year.
 
Boss Carol Bartz has previously attempted to play down talk of a management crisis at the firm, noting that most employees who have quit are several rungs down the ladder from board level.
 
However, the firm has struggled to compete against rivals including Google and Facebook in recent years, resulting in sluggish growth, NYT noted.
 
Bartz urged employees to keep faith with the firm’s restructuring plans in an internal e-mail announcing the latest departures, noting that the firm can “roll with the punches,” Reuters reported.
 
But her rallying cry is not enough for CNN, which claimed the latest departures are “game over” for the CEO due to an “abysmal” stock price of $14.34 (€10.44) at the close of markets yesterday, and minimal 2% growth in 2Q revenues year-on-year.

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