Yahoo search nets Jorgensen

Yahoo, the internet search portal, Tuesday appointed Blake Jorgensen as chief financial officer, ending a months long search.

Mr Jorgensen, co-founder of Thomas Weisel Partners, a San Francisco investment bank, will start work at Yahoo on June 4.

His appointment ends a search that began in December, after Sue Decker, Yahoo’s outgoing CFO, was poached to lead Yahoo’s advertising and publishing business after a management shake-up.

“Blake’s arrival will enable Sue to devote her full attention to her new responsibilities,” said Terry Semel, Yahoo’s chief executive.

“With Blake’s appointment, we’re continuing to put the right people in the right places to execute our strategy and adding outside talent to complement an already strong management team.”

Ms Decker, who is considered one of Yahoo’s most talented managers, had been splitting her time between her CFO duties and her new role as head of the company’s most lucrative business unit.

The advertising and publishing group is at the centre of Mr Semel’s effort to re-invigorate sales and make up ground on Google in the search advertising market.

The arrival of Mr Jorgensen, a banker with experience in mergers and acquisitions, comes as Yahoo is said to be in discussions with Microsoft over a possible merger or tie-up.

Yahoo ’s stock price slipped 0.7 per cent to $29.12 by midday in New York Tuesday. The shares rose to more than $32 this year from a low of $22.99 in October.