More Yahoo! Execs Head for the Door
SAN FRANCISCO - The exodus at
Yahoo!
(YHOO)
continues, with two more executives reportedly taking their leave.
Scott Moore, head of Yahoo!'s media business, and Al Warms, general manager of Yahoo! News, are both planning to announce their resignations, according to a report at AllThingsDigital.com, a
Wall Street Journal
affiliate.
Warms is expected to be replaced by Neeraj Khemlani, Yahoo! vice president of programming and development, the site said.
Shares of Yahoo! slid 1.5% to $12.63 in recent trading.
The departures signal growing instability among the Internet giant's top ranks. Yahoo! had already
throughout the year under the threat of a possible
Microsoft
(MSFT) - Get Microsoft Corporation Report
merger.
Two weeks ago, Yahoo! announced as part of its cost-cutting measures that it would slash
TheStreet Recommends
, resulting in the elimination of at least 1,500 jobs.
Other Internet companies have also taken similar action, including
eBay
. Even head honcho
(GOOG) - Get Alphabet Inc. Report
has been
, slowing down the pace of its hiring as the global economy continues to deteriorate.
Yahoo! had cut its workforce by 1,000 earlier this year. But weakness in its display advertising business, where it had been a market leader, is now taking a toll on the company, forcing it to make more sacrifices.
Add to that the
of an online ad sharing deal with Google, the company may need to find more places to cut in the future.
The ad deal had been expected to generate $250 million to $450 million in incremental operating cash flow for Yahoo!, as well as an $800 million annual revenue opportunity.
