Yahoo has hired veteran investment banker Blake Jorgensen as its new chief financial officer, the latest indication that the Internet icon is more interested in expanding through acquisitions than selling to potential suitors like Microsoft, an Associated Press report said.
The Associated Press report said with the appointment, Yahoo finally designated a replacement for Susan Decker, who has been Yahoo's CFO for seven years.
She is widely viewed as the most likely successor to Yahoo chairman Terry Semel, who is under increasing pressure to boost the company's recently sagging profits, the report said.
Yahoo promoted Decker to oversee the most critical part of its business, online advertising, as part of a management shake-up late last year, the report added.
Decker had continued as CFO while the company searched for a replacement.