Tim Morse, chief financial officer of the chip manucaturer Altera, has been appointed Yahoo’s new chief financial officer to replace Blake Jorgensen, the current finance chief, whose plans to leave were announced in February .
Morse joins Yahoo while investors keep looking for indications that the company can go through the problems that have shadowed it for more than two years. Many still expect Yahoo to set up partnership with Microsoft on Internet search, to make it more capable to compete with Google.
He spent approximately two years at Altera that produces chips for communications, industrial and consumer applications. Before joining the Silicon Valley company, he spent 15 years at General Electric in several different executive positions.
He is the latest executive Yahoo has hired from the industry outside the Internet. Others include Elisa Steele, the chief marketing officer, who previously worked at NetApp, and Jeff Russakow, senior vice president for consumer advocacy, who came from the security software maker Symantec.
Morse has a confirmed ability to render strategy into structure, process, and execution, and Yahoo is pleased that he will be joining the company’s leadership team to help trigger Yahoo’s growth. With his passion for operational finance, global experience, and expertise simplifying complex organizations and managing growth, Morse is a natural fit for Yahoo, the company said.
He will start to work at Yahoo on June 17, but he will not become chief financial officer until July 1, about one week after Yahoo’s annual shareholder meeting.
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