Yahoo to lose three executives

City A.M. Reporter
Yahoo Inc confirmed the departure of three senior executives, including US head Hilary Schneider, the latest in a string of high-level departures at the Web portal.

The departures raise concerns about Yahoo's efforts to revive its revenue growth and its popularity among Web surfers, nearly two years after CEO Carol Bartz took the helm, said analysts.

In an internal email to Yahoo employees obtained by Reuters, Bartz urged employees to "stay calm."

"We have a good plan in place. In fact, I'm more fired up than ever and can roll with the punches," Bartz wrote.

Yahoo said it expects to replace Schneider, the executive vice president of the Americas Region, by the end of the year.

Jimmy Pitaro, Vice President of Media at Yahoo, and David Ko, SVP Audience, Mobile and Local, North America, are also leaving the company. Yahoo said that Ko will be replaced by Raymond Stern, the company's head of business development and partnerships.

Yahoo shares are down 16.4 per cent this year.

Yahoo has made progress boosting its profit margins and struck a money-saving search partnership with Microsoft Corpnder Bartz's leadership, but Yahoo's revenue growth remains stagnant, growing two per cent year-over-year in the second quarter.

The Internet pioneer is facing increasing competition from social networking services like Facebook, which are attracting greater numbers of online visitors and advertisers.