Exclusive: Yahoo Email Confirms Exec Departures With an Internal Memo From Bartz's “Foxhole” (Plus 8-K!)
Finally, a funny from Yahoo CEO Carol Bartz, confirming what BoomTown reported yesterday about the departures of three top execs in an email memo to the company’s employees worldwide.
It just went out and began: “Carol from the foxhole here.”
Actually, she’s in Georgia. In the memo, Bartz said she expects to announce the new head of the Americas region for Yahoo (YHOO) to replace outgoing chief Hilary Schneider before the end of the year.
The company also released a similar statement, which is below, adding that Raymond Stern, Yahoo SVP of North America partnerships and business development, will take over for another outgoing exec, Audience head David Ko.
(Yahoo VP of Media Jimmy Pitaro was the third in the sweep of execs.)
And you can see Yahoo’s just-filed 8-K here on Schneider, because a departure of such a top exec requires regulatory notification. It is also embedded below.
(By the way, they are not rumors if they are true. Don’t drop-kick me to f***ing Mars for saying so, Carol!)
Here’s the full memo from the All Things Digital Bartz-fortified bunker, just in case, signing out:
Carol from the foxhole here. No, actually I’m in Atlanta to give a speech later tonight, and doing some client meetings.
But I’m sure you’ve seen the rumors about Hilary Schneider, David Ko, and Jimmy Pitaro leaving. Yes, they’re leaving, but each for different reasons that suit their life–and Hilary will send a separate note to her team with more about the Americas org. later today.
After nearly four years with Yahoo!, Hilary has decided to move on to the next phase in her career. Hilary has played a major role at Yahoo! in driving our strategies for content, online advertising and more. I want to thank her for her contributions over the years, and wish her the best as she moves on.
We expect to announce the new head of the Americas region before the end of the year. There is a lot of interest in joining our team for such a key position and, in the meantime, Hilary will stay on to help with the transition.
Now, you all know we’ve been intensely focused on improving our operations and top line growth. And we’ve seen good progress. But there’s a lot more to do, and as we transition to a new leader for the Americas we’re taking this opportunity to double down on these efforts. Hilary’s successor will clearly be maniacally focused on growing our top line in the region.
So everyone stay calm–we have a good plan in place. In fact, I’m more fired up than ever and can roll with the punches. Yahoo! is a great place.
And here is the official statement from Yahoo:
Yahoo! today announced the departures of Hilary Schneider, Yahoo!’s EVP Americas Region; David Ko, SVP Audience, Mobile and Local, North America; and Jimmy Pitaro, Vice President of Media. Yahoo! continues to be committed to delivering the best digital experiences to consumers, leadership to advertisers and amazing scale and reach to partners.
Hilary Schneider has played a major role at Yahoo! in driving the company’s strategies for content, online advertising and more. David Ko and Jimmy Pitaro have both made countless contributions to Yahoo! and have helped transform the company’s mobile and content strategies in a constantly evolving business environment. We wish them all the best in their future endeavors.
Raymond Stern will assume responsibility for David Ko’s teams and duties. The company is seeking a new head of the Americas region and expects to make that announcement before the end of the year. Schneider will stay on to help with the transition.
And here is the 8-K: