Another high-profile leader at Yahoo has vacated their position and this time it’s Yahoo’s outgoing chief development officer Jacqueline Reses. Square CEO Jack Dorsey, who also doubles as the CEO of Twitter, said her background in finance, investment and tech makes her a perfect fit.
Forbes magazine reports that this is another big staffing loss for Yahoo who has seen a number of employee changes over the last year:
Reses, who will report directly to Square CEO Jack Dorsey, represents another critical loss for Yahoo CEO Marissa Mayer, whose three-year tenure over the internet company has been fraught with internal strife and management changes. Last month, Yahoo lost Chief Marketing Officer Kathy Savitt to movie studio STX Entertainment, while other notable departures include the early 2014 firing of well-compensated Chief Operating Officer Henrique de Castro. Prior to her exit, Reses oversaw Yahoo’s acquisition decisions and most recently spent time leading the spinoff effort of the company’s $27 billion stake in China’s Alibaba Group.
For Square, Reses’ hiring is important as the company tries to convey to potential IPO investors that it has built a capable bench of executives to surround part-time CEO and cofounder Dorsey. Square said last week that it had filed to go public, an announcement that came shortly after Dorsey was also confirmed as chief executive of Twitter TWTR -3.33%, the microblogging service he also helped to create.”
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