Yahoo! Names New Ad Sales Chief

David Karnstedt will take over North American ad sales, while Wenda Millard leaves the company.
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Yahoo! (YHOO) has named David Karnstedt to head North American ad sales as it reshuffles its executive ranks.

The company said it is combining its search and display advertising sales teams in the U.S., and Karnstedt, currently the senior vice president of search sales, will lead the combined unit.

As part of the reorganization, Yahoo! said Wenda Millard, its chief sales officer in the U.S., would leave the company immediately.

Martha Stewart Living Omnimedia


separately announced Sunday it had hired Millard to oversee its media businesses. Millard will begin her new job July 16, reporting to Martha Stewart Living Omnimedia CEO Susan Lyne.

"While Wenda was a big contributor to our success in the past, the industry has shifted and requires a different set of skills to take the business forward," said Gregory Coleman, Yahoo!'s executive vice president of global sales, in a news release.

Yahoo! said the ad sales reorganization is part of broader efforts to structure activities around marketing customers rather than advertising products.

Karnstedt joined Yahoo! Search Marketing (formerly Overture) in 2001 and will continue to report to Coleman.

On Monday, Yahoo! CEO Terry Semel stepped down amid pressure from shareholders. He has been replaced by company cofounder Jerry Yang.

Yahoo! shares finished Friday down 29 cents at $27.38.MSO shares lost 14 cents to end the session at $17.39