Online portal Yahoo!’s recent woes deepened yesterday with the loss of yet another senior executive – sales and marketing chief Anil Singh.
His departure follows an abysmal few weeks for Yahoo!, in which it has lost a string of senior staff, watched its stock price plummet and seen ceo Tim Koogle step down.
The 42-year-old Singh was the portal’s 21st employee when he joined in 1995, since when he became one of the leading figures behind Yahoo!’s ad-based business model. But as struggling dotcoms slashed their adspend, the formerly profitable portal’s dependency on advertising helped trigger its current turmoil, leaving it struggling to break even [WAMN: 08-Mar-01].
Yahoo! insisted that Singh had left to spend more time with his family. It has not yet found a replacement.
Said a senior analyst at Robertson Singer: "It has reached the point where we can say that there's a definite talent drain going on at Yahoo!" – thereby epitomizing the penetrating commercial insight and judgement on which billions of dollars rest daily.
News source: Financial Times