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Yahoo Replaces CFO as New CEO Marissa Mayer Delivers Pep Talk

UP: Marissa Mayer
Marissa Mayer

Chief financial officer Tim Morse will be replaced by Ken Goldman of Fortinet.

Yahoo on Tuesday said it has lured Ken Goldman from security-software firm Fortinet to become the online company’s CFO, replacing Tim Morse.

News of the move came the same day new CEO Marissa Mayer laid out her vision for Yahoo during a meeting with employees.

Mayer’s pep talk mostly avoided specifics, a notable exception during a discussion about “acqui-hires,” which is her way of saying that Yahoo intends on buying small companies not for their products but for their engineering talent, according to Business Insider, which cited as its source employees who attended the meeting.

Yahoo will be strong in mobile by 2015; projects will be approved only if they can scale to 100 million users or $100 million in revenue; and Yahoo will nurture talent through the four C’s: Culture, company goals, calibration and compensation, according to Business Insider.

Shares of Yahoo fell 32 cents on Tuesday to $15.68.

Goldman starts as CFO of the company on Oct. 22. Mayer left Google to become Yahoo CEO in July, replacing Ross Levinshon, who had been interim CEO since replacing Scott Thompson.