Yahoo's CFO Is Out

Tim MorseTim Morse

Yahoo just hired a new CFO, Bloomberg’s Jon Erlichman just tweeted.The new guy is Ken Goldman, who used to work at Fortinent.

Yahoo’s current CFO, Tim Morse, is out, obviously. 

Goldman will officially take over on October 22.

Morse did good work at Yahoo. 

He grew profits while revenue stayed stagnant.

He also facilitated Yahoo’s extremely complicated sale of Alibaba stock, which just netted the company $4.3 billion.

We’ve heard in recent weeks that Morse was wary of working with yet another CEO.

In a statement, Yahoo CEO Marissa Mayer says: “Ken is one of the most accomplished and respected financial executives in the technology industry having served as a CFO for more than 25 years, and we’re thrilled to have him join Yahoo.”

“His track record leading the financial strategy and stewardship of many successful public and private companies makes him an ideal choice for Yahoo! as we enter our next phase of growth.”

Here is Goldman’s official bio, from Fortinet:

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 [email protected], 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.

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