Finally Yahoo has found a replacement to its previous CFO Blake Jorgensen who resigned sometime in February this year. The Yahoo Board has just appointed Tim Morse who was previously the CFO of semiconductor company, Altera.
As Yahoo CFO, Mr. Morse will be reporting directly to Yahoo’s CEO Carol Bartz and he will taking on the tough job of managing the company’s finance, investor relation and mergers and acquisitions group.
In a press release, Yahoo CEO Bartz has this to say about Tim Morse’s appointment:
“Tim has a proven ability to translate strategy into structure, process, and execution, and I am delighted that he will be joining my leadership team to help drive Yahoo!‘s growth,” said Bartz. “With his passion for operational finance, global experience, and expertise simplifying complex organizations and managing growth, Tim is a natural fit for Yahoo!.”
Bringing with him a strong background and experience in managing complex, fast-paced environments and establishing scalable cost-effective processes and control, Tim Morse is set to start reporting to Yahoo on June 17, 2009. Officially, he will take the CFO position starting July 1, 2009.
Speaking about his appointment as Yahoo’s new CFO, Mr. Morse looks forward to working under a new leadership team and hopes to continue to focus on driving results and creating more value for Yahoo’s shareholders.
“Yahoo! is an amazing brand with a unique combination of assets, and I am extremely excited to be joining a finance team with a deep commitment to financial excellence and fiscal discipline,” said Morse.