Online sales grew by more than 30% in the fourth quarter, but store sales slid by 6.1% year over year.
Michael Barrett, fresh from a stint at Google, will oversee advertising.
Yahoo Inc. has hired Michael Barrett as executive vice president and chief revenue officer. He will oversee Yahoo’s global advertising revenue and operations.
Barrett comes from Google, where he was a director since January, according to his LinkedIn profile. Yahoo says he joined Google after it bought online display advertising firm Admeld Inc. last year; Barrett was hired by Admeld in 2008 as CEO. Previously, he was chief revenue officer at Fox Interactive Media. He has also worked as a sales executive for AOL.
This is not Barrett’s first job at Yahoo. For a seven-month period in 1999, he was the company’s senior vice president, e-commerce.
“Michael Barrett is regarded as one of the most successful and influential executives in media and technology, and I am thrilled to have him join Yahoo in this critical role," says Ross Levinsohn, Yahoo’s interim CEO. "I am confident that his deep industry experience and relationships will help us drive our strategic vision, taking Yahoo's industry-leading position to the next level."
Barrett reports to Levinsohn. Barrett’s hiring comes amid Yahoo’s recently announced effort to focus more on e-commerce, in large part by using data on online consumers to help retailers and other advertisers present products likely to appeal to shoppers.