In its second-largest acquisition, Amazon buys the company for $970 million.
Kathy Savitt is also an Amazon.com veteran.
Yahoo Inc. has hired Kathy Savitt as its chief marketing officer, giving her oversight of the company’s worldwide marketing and branding activities.
She founded and served as CEO of Lockerz.com, an invitation-only site that generates revenue from both e-commerce and advertising, and which focuses on young consumers interested in fashion, home décor, gadgets and other areas. Liberty Interactive Corp., No. 7 in the Internet Retailer Top 500 Guide, owns a 38% stake in Lockerz.com, Liberty says on its web site. Savitt had worked at Lockerz.com since March 2009, according to her LinkedIn profile.
Previously, she was executive vice president and chief marketing officer for American Eagle Outfitters Inc. (No. 65 in the Top 500), and vice president of strategic communications, content and initiatives for Amazon.com Inc. (No. 1).
"We are very excited to welcome Kathy to Yahoo," says Marissa Mayer, the recently hired CEO of Yahoo, and the executive to whom Savitt will report. "Her extensive experience in building and refining well-loved consumer brands like Amazon, American Eagle Outfitters and Lockerz will be incredibly valuable as we define Yahoo's future.”
Meanwhile, Lockerz.com says that it will replace Savitt as CEO with Mark Stabingas, the company’s chief operating officer. Savitt will become chairman of the Lockerz board and make an investment in the company. Lockerz says the changes will become effective Sept. 14.
Stabingas joined Lockerz as a consultant in December 2010 and became chief operating officer in March 2011. He also had worked at Amazon.com, including as vice president of finance from 2000 until 2003, and more recently as general manager of Amazon Payments from December 2007 until September 2010, according to his LinkedIn profile.
“Mark has been instrumental in every aspect of the business, from setting strategy and building partnerships with some of world’s greatest global brands, to creating an experience that is meaningful and fun for members,” says Savitt. “Mark’s stewardship of the company allows me to step back from day-to-day operations and pursue an exciting role at Yahoo, while remaining a committed and involved director at Lockerz, a company for which I will always have great passion and love.”