Yahoo Hires New CFO To Strengthen Web Acquisitions

Today Yahoo announced that they have hired Blake Jorgensen to take the position of CFO (Chief Financial Officer.) Mr. Jorgenson is a veteran investment banker that was one of the bigwigs for one of Silicon Valley’s most prolific dealmakers, Thomas Weisel.

Most recently, Jorgensen was co-director of investment banking for Thomas Weisel Partners Group Inc., where last year he helped increase his division’s revenue by 65 percent. He also spent five years as Thomas Weisel Partners’ chief operating officer before stepping down from that job in March 2007.

Jorgensen’s investment banking background suggests that Yahoo wants more expertise in identifying and negotiating takeovers that will help the company regain its stride and become formidable challenge to online search leader Google Inc., which runs the Internet’s largest ad network.

Blake Jorgenson is 47 years old and will take his new position as Yahoo’s CFO on June 4, 2007.
he will also oversee the mergers and acquisitions group. Terms of the contract weren’t disclosed.

There was recent discussion that Microsoft was making a bid to buy out Yahoo but talks fizzled and Yahoo decided to go in another direction. Hiring someone new and moving to grow their network.

Resource

Popularity: 10% [?]

If you enjoyed this post, subscribe to the Goongee Blog RSS feed! We update everyday about news and people.