Yahoo! Inc. (NASDAQ: YHOO) announced that Ken Goldman is going to join the company as chief financial officer on October 22nd.
He “will be responsible for Yahoo!’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations. Goldman will report directly to Yahoo! CEO Marissa Mayer.”
In the company’s press release Mayer was quoted as saying “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.” She also noted his over 25 years’ experience as a CFO.
But the real story seems to be that this points to the direction in which Mayer, new to Yahoo!, wants to take the company. The current CFO is known as a cost-cutter who has helped Yahoo! increase profits even as revenue has fallen.
Although Mayer has not publicly disclosed her plans, she was brought in as CEO to change Yahoo!’s course – and it’s been widely speculated that Mayer wants to invest in products and acquisitions. Bringing in Mr. Goldman as the new CFO can only reinforce such speculation.
Mayer is expected to discuss Yahoo!’s plans next month when third quarter financial results are announced.