New Yahoo! CFO Timothy Morse Is A Major Cost Cutter
Earlier this month, Yahoo! hired Timothy Morse as the new CFO. Morse is the former CFO of Altera. While Morse was at Altera, operating margins increase from 23% in 1Q 2007 to 31% in 2Q 2008.
“Growth companies and high-tech companies have traditionally been very successful in innovating the topline and finding new ways to grow; it hasn’t always been that balanced equation looking at capital and cost structure,” stated Morse at a tech conference in 2007.
Morse was able to cut costs without major layoffs at Altera. Only 33 people were laid off last December. Yahoo! CFO Blake Jorgensen left Yahoo! because he believed the CFO was more of a strategic position, but Yahoo! CEO believed that they needed more of a cost-controller.
[via BusinessInsider]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry