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"We believe the departure of Yahoo!'s display ad sales chief, Wenda Millard, could have a negative impact on Yahoo!'s display/branded advertising business, as she has been critical to Yahoo!'s efforts to move offline advertising dollars online," Bank of America analyst Brian Pitz wrote in a research note Monday. Bank of America makes a market in Yahoo! shares.
With Millard out, 10 of top 26 executives Yahoo! listed on its Web site are now gone, the tech blog Valleywag notes. And many commentators are expecting more employees to jump ship in the near future. And despite talks of a Yahoo! sale, the company has said it plans to remain independent, reportedly having already rebuffed offers. Newly appointed CEO Jerry Yang "specifically talked to his vision of Yahoo! as a 'vibrant, independent company,'" during his inaugural speech, Pitz writes. "Our view remains that in the near term, the company will remain independent," Pitz writes. Yang may be half-right: The company may remain independent in the near term. Vibrant, however, is open to debate. Shares of Yahoo! were up 23 cents to $27.61 midday.TheStreet Premium Services
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