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Tim Morse Out, Ken Goldman In As New Yahoo CFO
This afternoon Yahoo announced that its new CFO would be Ken Goldman. Tim Morse, who had been CFO and acting CEO for a brief time, will be leaving shortly. Morse started in mid-2009.
Goldman brings a solid tech-industry resume to the position. According to his bio on Fortinet site (still up):
Ken Goldman is an accomplished executive with extensive financial, operational and business management experience and a solid track record of success. He served as senior vice president, finance and administration, and CFO of Siebel Systems from August 2000 until the close of Oracle Corporation’s acquisition in January 2006. Prior to that, he held CFO positions at Excite@Home, Sybase, Inc., Cypress Semiconductor and VLSI Technology. Additionally, his experience includes board director, audit committee chairman, and financial advisory roles at several leading public and private technology companies. Ken earned his bachelor’s degree in electrical engineering from Cornell University in 1971 and his master’s degree in business administration from Harvard Business School in 1974. He is a member and the former president of The Financial Executive Institute, Santa Clara chapter, and was formerly a member of the Financial Accounting Standards Board Advisory Council (FASAC) from 2000 to 2004.
Goldman is widely respected in the industry with a long track record, as the bio above indicates. Most recently he has been the CFO of Fortinet.
He’ll have the unpleasant job of reporting Yahoo’s revenues to financial analysts. Let’s hope that he and Marissa Mayer can help generate some upbeat earnings in future quarters.
Postscript: The NY Times suggests that Goldman replacing Tim Morse signals Yahoo is preparing for “expansion” (i.e., acquisitions).