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Yahoo! exec drain continues

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The Seven Network and Yahoo!’s online-TV-brand-hybrid, Yahoo!7, has revealed that revenue for the 2010 calendar year grew 37.7 per cent to $A91.5m. Online ad demand has helped drive net profits to $A22m.

Industry speculation suggests that the company is beefing up its executive team and is currently on the hunt for a chief operating officer to fill a newly created role.

The new executive would be the right hand to CEO Rohan Lund who has been at the helm of Yahoo!7 since 2007 and is behind a series of including Totaltravel, Australia’s largest online sports tipping website, Oztips, and most recently the $40m acquisition of grouping buying site Spreets last month.

Meanwhile, the Yahoo! group continues to lose senior executive staff, the most recent casualty Ken Mandel, regional VP sales and marketplaces at Yahoo Asia-Pacific. Mandel joined Yahoo in January 2008 as regional VP and managing director, Southeast Asia and took up the wider regional role in March 2010.

His role will be taken by Yahoo! executive Susanna Lee under a new title Senior Director, Asia Pacific Display Advertising.

Mandel’s departure continues Yahoo!’s global staff attrition. It has lost 15 senior executives in 18 months. In January this year, the company said it would slash a further 140 positions from its global workforce. ®

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