In a key appointment, struggling Internet pioneer Yahoo (NASDAQ:YHOO) has announced a new Chief Revenue Officer.
Michael Barrett has been tapped for the position as part of the company’s latest reorganization plan under new CEO Ross Levinsohn, Reuters notes.
A former director at Internet giant, Google (NASDAQ:GOOG), Barrett will attempt to boost advertising revenues at the company, which has seen banner ad dollars slide as advertisers seek other formats.
Yahoo’s advertising revenue is expected to hit $12.4 billion this year.
This is the second time Barrett has served as a chief revenue officer. He formerly held that position at News Corp.’s (NASDAQ:NWSA) Fox Interactive Media. Levinsohn also worked at Fox Interactive Media during that time.
Barrett will officially join Yahoo in July.
Levinsohn’s predecessor Scott Thompson had to step down in May after questions about errors in his corporate biography emerged.
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