Yahoo CFO leaving as new CEO shakes up management

Thu, 02/26/2009 - 7:10am
Michael Liedtke, AP Technology Writer

SAN FRANCISCO (AP) – Yahoo Inc.'s chief financial officer is leaving the troubled Internet pioneer in a management shake-up that signals the company's new chief executive is preparing to rollout her turnaround strategy.

Blake Jorgensen, who had been Yahoo's CFO since June 2007, will relinquish his duties as soon as his replacement is found, the company disclosed Thursday.

Yahoo's other management changes in the overhaul weren't immediately disclosed, but new CEO Carol Bartz promised the new pecking order would speed decision-making in the company and make it easier to fulfill her vision.

"People here have impressed the hell out of me," Bartz wrote on Yahoo's blog. "They're smart, dedicated, passionate, driven and really nice. There's so much great energy, and frankly lots of optimism. But there's also plenty that has bogged this company down. For starters, you'd be amazed at how complicated some things are here."

Bartz began putting her stamp on Yahoo six weeks after the Sunnyvale, Calif.-based company hired her to replace co-founder Jerry Yang, who had frustrated many investors and employees with his indecisiveness.

Jorgensen was a close ally with former Yahoo President Susan Decker, who resigned last month after she didn't get the CEO job.

Yahoo shares gained 57 cents, or 4.6 percent, to $13.05 in Thursday's early afternoon trading.

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