One reason Yahoo’s board hired Marissa Mayer to be the company’s CEO last summer was that board members hoped her star power would enable Yahoo to hire talented people away from other Silicon Valley companies.
And, in the months since, Mayer has indeed made recruiting talent into the company a top priority.
But she’s had to use huge sacks of cash to do it.
To hire a COO from Google, Henrique De Castro, she agreed to pay him as much as $60 million over four years.
To hire young, talented entrepreneurial types, she’s had Yahoo “acqui-hire” almost a dozen small failed startups.
Today, however, brings news of a more impressive, traditional hire.
Mike Isaac of AllThingsD reports that Mayer and Yahoo hired Dylan Casey, the VP of product Path.
That’s impressive because Path is a relatively successful, and fast-growing startup. A couple weeks ago, there were reports that Path is adding a million users per day.
The company is one of those that, if it executes right, could sell for a billion dollars.
Usually people in Silicon Valley don’t quit those kinds of companies to join older, struggling ones like Yahoo.
So this is a big win for Mayer, one that proves the board’s foresight in hiring her.
Casey is a former colleague of Mayer’s from Google. There, he helped build Google+ and led the team that built that Google Search feature where search results start to show up as you type in your search query.
It’s unclear what Casey exactly will do at Yahoo. It’s likely he’ll remain in product management.
Sources around the industry say the true strength of Google is the army of “mini-CEOs” it has in product development leadership. In speeches, Mayer is open about wanting to build up a similar reserve of talent at Yahoo.
Casey is clearly one of those types. Over on his LinkedIn profile, he lists the follow as his accomplishments during a year and a half with Path:
-Reorganized the development team into a matrix organisation to speed development, increase product quality, and measure use.
-Created and implemented a design led software development process.
-Developed the company Product Strategy for 2012 and 2013 towards company and business objectives.
-Responsible for launching the entire product roadmap and its results.
-Defined, launched and measured effectiveness of Messaging and other products.
-Recruited and hired the product management team.
-Developed product strategies to increase growth, retention and revenue.
-Managed product expense and revenue budget.
-Managed application and content distribution with partners and Apple/Google.
-Implemented company wide Objective and Results tracking.
-Implemented company wide performance review and levelling process.