Yahoo hires Ken Goldman of Fortinet as its new CFO

Yahoo, Inc. CEO Marissa Mayer announced in a statement that the company has hired Fortinet CFO Ken Goldman as its new Chief Financial Officer starting October 22. Fortinet deals in security software solutions.

Goldman will take over the office in almost a month’s time and Mayer will have ample time to cut out work for him. According to the CEO, the hiring has been made in light of the current strategy that company as undertaken. Goldman is the likely candidate for Yahoo’s next phase of restructuring.

Goldman’s reputation precedes him. His professional acumen in leading his companies through thick and thin over the years has swayed the likes of Mayer at Yahoo.

“His track record leading the financial strategy and stewardship of many successful public and private companies makes him an ideal choice for Yahoo as we enter our next phase of growth,” Mayer said in a statement.

Goldman has worked as the CFO of various companies including the more volatile technology entities like semiconductor-manufacturing firms. He started working as CFO at Siebel Systems in 2000 and remained there for six years before it was acquired by Oracle in 2006.

His work in the semiconductor business is written the red letters. In a 2009-interview, he highlighted his work in the semiconductor industry differentiating it from others.

“I’ve been in the semiconductor industry, which goes through this every five years,” Goldman said in the interview. “Other industries have not gone through this and are somewhat unprepared.”

Goldman hiring aligns with Mayer’s strategy of restructuring Yahoo. Rumour has it that she plans to redesign the Yahoo.com homepage and also make changes in the search functions. However, the company refused to respond to these stories.

YHOO was down 2 percent in the regular trading session on Tuesday but rose 1 percent in the afterhours following the hiring news.

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Posted by Usman Khalid on Sep 26 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.