[BusinessTeam] FT.com News and Analysis World Article.htm

Message-ID: <6B75EF096AE0BE428B8CEDEA89C5F632782372@exchange01.lab49.com> · Thu Mar 15 15:09:07 2001 UTC

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Yahoo! loses two executives
By Andrew Heavens in San Francisco
Published: March 14 2001 14:16GMT | Last Updated: March 15 2001 12:44GMT

 yahoo logo
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Yahoo! on Wednesday said it was losing its sales and marketing chief in
the latest of a string of key departures at the struggling internet media
group. 

Anil Singh said he was retiring days after the group warned first quarter
revenues and earnings would miss estimates and started a search for a
replacement for chief executive officer Tim Koogle. 

Analysts on Wednesday said the move highlighted Yahoo!'s difficulty in
keeping hold of its top talent against the background of its current
troubles. 

"It has reached the point where we can say that there's a definite talent
drain going on at Yahoo!," said Lowell Singer of Robertson Stephens.
"They've lost enough senior staff now to cause real concern." 

Mr Singh, aged 42, joined Yahoo! in 1995 as its 21st employee and went on
to become one of the architects of its advertising-based revenue strategy.

That ad-based strategy has come under increased scrutiny in recent months
as cash-strapped 'dotcom' companies cut back on marketing spending. 

Last week Yahoo! said the advertising slowdown had hit it harder than
expected as it warned first-quarter revenues would come in between $170m
to $180m, well below Wall Street's expectations of more than $232m. 

On Wednesday Merrill Lynch added to the gloom around the online
advertising by saying it expected the market to fall 25 per cent in 2001.
Yahoo!'s share of that market would decline to 11 per cent, from about 16
per cent in 2000, it added. 

Mr Singh first said he was stepping down from his position as chief sales
and marketing officer and senior vice-president of business operations in
December. But he promised to stay on in an unnamed position that would
involve advising the board on long term strategy. 

Yahoo! on Wednesday said he had decided to resign to spend more time with
his family. "He has a young kid going to college and he wants to send more
time with him," said a spokeswoman. Yahoo! said it was still looking for a
replacement. 

Mr Singh's departure comes on the heels of resignations from Yahoo!'s
heads of operations in Europe, Asia (excluding Japan), South Korea and
Canada. 

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Discussion: What is to become of the best known brand on the web? 

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