“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]

Timothy Morse became the CFO and SVP of Altera Corporation back in January 2007.  Before that he was the CFO and General Manager of Business Development at GE Plastics.  He had worked at General Electric for 15 years.  Morse has just been hired to become the CFO of Yahoo! as the replacement of Blake Jorgensen.

Jorgensen left Yahoo! in February and was given a $1.8 million severance package.  The time that Jorgensen left was interesting because he had worked through the unsolicited Microsoft bid and Carl Icahn’s proxy war to have the whole board at Yahoo! replaced.

Morse’s responsibilities will include managing the company’s finance and investor relations.  He will also oversee M&A possibilities.  Morse will be starting on July 1.  Altera Corporation is a semiconductor company.