Blow to Yahoo! as managers quit
19 July 2005
Internet portal Yahoo! has reportedly been dealt a blow to its plans to expand its media and entertainment offering, with the news that several media group heads are leaving or choosing not to move to new offices.
The firm is moving from its Sunnyvale, California, base and, of its eight media division general managers, three have decided to quit, according to the Wall Street Journal.
The heads of Yahoo!'s finance, sports, and movies and television units are leaving, while three other division heads have opted not to relocate to new offices in Southern California from Silicon Valley, choosing instead to take other jobs at the company.
The move to the LA area has not been popular with many at Yahoo! and the management style of Lloyd Braun, the former chairman of the entertainment division at Walt Disney's ABC Network has also prompted the management turnover, the newspaper claims.
Yahoo! chairman and chief executive Terry Semel hired Mr Braun at the end of 2004. He refused to comment on the rumours. A spokeswoman for Yahoo! told the Journal that the criticism of the new Yahoo! boss "doesn't represent the general consensus among the group" and the management changes were part of a wider effort to strengthen the media division's leadership.
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