CEO Carol Bartz continues to put her stamp on Yahoo! Inc. (NASDAQ:YHOO). On Thursday
she announced a new CFO for the company: Tim Morse, who as of July 1 will be responsible for finance, investor relations, and the mergers and acquisitions groups at the Internet company.
Morse (pictured) is leaving a position as CFO of semiconductor maker Altera Corp. (NASDAQ:ALT), which he joined in 2007. But he's even more of an outsider to the Internet business than that. He spent the previous 15 years at General Electric Corp. (NYSE:GE), where his last assignment was CFO and head of biz dev for GE Plastics.
In that role he worked on the
2007 sale of GE Plastics to Saudi Basic Industries Corp. for $11.6 billion,
according to the WSJ. As GE corp dev chief Pamela Daley told The Deal for an
article on dealmaking at GE in December, the transaction was quite a process.
In a press release, Bartz praises Morse's ability to "translate strategy into structure, process, and execution," and also his "expertise simplifying
complex organizations," something that's high on her agenda at Yahoo!.
So what strategy will Morse be translating? Jonathan Salem Baskin, blogging at InformationWeek,
doesn't see one yet, though he applauds Bartz's moves so far.
But Bartz only took over at Yahoo! in January, and as we noted in an earlier post, she has at least given some
clear signals on her priorities. -
Kenneth Klee
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