Yahoo! Inc. (YHOO) on Monday named Elisa Steele to its newly
created role of chief marketing officer, part of the Internet
giant's push to boost its brand globally.
Chief Executive Carol Bartz, who succeeded Jerry Yang in
January, made the decision to re-establish the chief-marketing
position after the company went about two years without it,
according to a Yahoo spokesman. The last officer to hold the CMO
position at Yahoo was Cammie Dunaway, who took a position at
Japan-based Nintendo Co. (7974.OK).
"Yahoo's marketing strategy and teams have become decentralized
over time - hiring Elisa in the CMO role will quickly mobilize our
plan to integrate the function globally and more effectively
represent the Yahoo brand," Bartz said.
Prior to joining Yahoo, Steele was senior vice president of
corporate marketing at NetApp Inc. (NTAP), where she led the
company's global brand strategy. Steele also served in management
positions at AT&T (T) and JavaSoft, a brand of Sun Microsystems
Inc. (JAVA).
Yahoo's stock tumbled throughout 2008, and last October, the
company said it would cut its global work force by at least 10%.
The company has struggled more than rival Google Inc. (GOOG)
because it is heavily exposed to the slumping Internet
display-advertising market and it hasn't been as effective in
making money from search ads.
Yahoo shares were up 2.1% to $13.88 in recent trading Monday
amid a broad market rally. The stock is up 14% this year.
-By John Kell, Dow Jones Newswires; 201-938-5285;
john.kell@dowjones.com
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