A big chunk of Yahoo’s senior executive team is suddenly quitting, Kara Swisher reports, including U.S. head Hilary Schneider, U.S. audience boss David Ko, and VP of Media Jimmy Pitaro.
Equally earthshaking, some Yahoo board members reportedly met this week to discuss the management problems and Carol Bartz, who has made some much-needed decisions since taking over the CEO slot, but has not been successful at articulating a long-term vision for Yahoo or getting the stock price moving again.
The board may gradually oust Bartz, Kara’s sources speculate, by appointing a strong No. 2 who would take over when her contract is up in 18 months.
Hilary Schneider has been planning to leave for a while, Kara says, and will stick around while Heidrick & Struggles searches for a replacement. David Ko’s responsibilities will apparently be handed to Blake Irving, a former Microsoft exec brought in by Carol. No one knows why Jimmy Pitaro’s leaving.
This turnover will likely cause Wall Street and Yahoo employees to lose more confidence in Carol’s leadership. Everyone understands that turnarounds take time, but Carol should have locked in her long-term executive team by now. And the team’s ongoing inability to explain Yahoo’s mission and strategy hasn’t helped.
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