Yahoo ad sales boss Wayne Powers has quit the company for a new job at Condé Nast’s Advance Publications, AllThingsD’s Peter Kafka reports.Powers was hired by new Yahoo CEO Marissa Mayer’s interim predecessor, Ross Levinsohn, back when Levinsohn’s job was to run Yahoo’s media businesses. He came from Time Inc.
Early on at Yahoo, Powers earned a reputation as someone who would demand accountability from people in an organisation that had grown lazy.
Expect lots of turnover at Yahoo as new CEO Marissa Mayer figures out who she can work with. One source close to the top of Yahoo told us that everyone who reported to Mayer’s predecessors will be gone before the end of the year.
This turnover will cost Yahoo in the short to medium term.
A source deeply informed of Yahoo’s business and well-connected with its executives, predicts that, while Yahoo’s Q3 sales started strong and that Q4 is already ahead of last year, sales revenues will nevertheless suffer to the tune of $50 million to $100 million in Q3, and $100 million to $200 million in Q4. (For context: Yahoo sales totaled $1.2 billion last quarter.)
For an explanation on WHY the company will lose that money, go here: Marissa Mayer And Yahoo Are Headed For A Rough Few First Months Together