Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Yahoo has combined its sales operations for Internet search and display advertising under a unit called North American Sales. The company has promoted search ad executive David Karnstedt to lead the new sales organization.
Yahoo Inc. has combined its sales operations for Internet search and display advertising under a unit called North American Sales. The company has promoted David Karnstedt from senior vice president of search sales to head of the new sales organization.
Wenda Millard, Yahoo’s chief sales officer in the U.S., has left the company as part of the reorganization of the sales organization, Yahoo says. "While Wenda was a big contributor to our success in the past, the industry has shifted and requires a different set of skills to take the business forward,” says Gregory Coleman, executive vice president of global sales.
"The future of advertising isn`t about choosing between search and display, but about leveraging the breadth of advertising products to more effectively reach your customers with the right message, in the right context, at the right time, and on the right platform," Coleman adds.
Karnstedt joined Yahoo Search Marketing (formerly Overture) in 2001 and went on to build and manage the company’s North American sales force for search advertising. Earlier in his career, Karnstedt served on the management teams of several Internet companies including search providers Wired Digital Lycos and Alta Vista. Over the years he has helped to develop marketing and branding strategies related to Internet search advertising.
"Integrating our world-class search and display sales teams under David`s leadership will allow us to better serve all of our advertisers` marketing objectives ranging from brand awareness to direct response," says Yahoo president Sue Decker. "This is one of many important steps we`re taking to re-invigorate our display business, further build on our industry-leading position in advertising, and drive thought-leadership in the online advertising marketplace."
Karnstedt’s promotion follows the appointments last week (With a new/old CEO at the helm, Yahoo sets a course for…where?) of Yahoo co-founder Jerry Yang as chairman and CEO and Decker as president. Yang succeeded Terry Semel, who remains as non-executive chairman and advisor to senior management. Decker, formerly executive vice president and head of Yahoo’s Advertiser and Publisher Group, continues to head that group as well as Yahoo! Network, Connected Life and Yahoo’s International operations.