LONDON (Brand Republic) - Yahoo! Europe鈥檚 managing director Fabiola Arrendondo has stunned the internet industry by announcing her resignation.
Arrendondo, who joined Yahoo! Europe in 1997, is leaving to 鈥減ursue private business interests鈥, according to a company statement.
Arrendondo was a charismatic and high-profile figurehead for Yahoo! Europe. She appeared on the cover of Newsweek in Europe, while Fortune magazine ranked her as the second most powerful woman executive in Europe last year.
The news is a significant blow to Yahoo!, which had considered floating its European operations on the stock exchange. While the company is one of the few profitable dotcoms, it has not escaped unscathed from the recent technology slump and its shares have plunged from a high of $205 (£141.20) to a low of $14.12 (£9.73).
Yahoo! Europe includes eight countries and accounts for about 10% of global revenue.
The news came as Yahoo! Australia & New Zealand announced it was buying auction site sold.com.au, currently owned by newspaper publisher John Fairfax Holdings, for an undisclosed amount.
Yahoo! Australia & New Zealand, which already operates its own local auction service, said that details of how the two services will be integrated will be unveiled after the transaction is complete.
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