The head of corporate development for Yahoo, Andrew Siegel, is leaving the company after a little more than a year, reports Kara Swisher.
Siegel was in charge of mergers and acquisitions for the company, but the company was unable to land two big acquisitions that he targeted: Foursquare, which decided to take other funding, and Groupon, which is in late stage talks with Google instead. He did help the company complete some smaller acquisitions, such as Associated Content for around $100 million.
Yahoo is suffering from the widespread perception that it’s stagnant and disorganized, which makes it tough to convince startups that it would make a good steward for their people and products. The company is also looking to cut costs, with plans to lay off several hundred people later this month. Siegel is the latest in a recent exodus of top talent from the company.
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