LONDON (Brand Republic) - In an effort to widen its management team Yahoo! has poached Reader鈥檚 Digest鈥檚 senior vice-president Gregory C Coleman as its executive vice-president of North American operations.
Coleman will join Yahoo! in April and will report to president and chief operating officer Jeff Mallett.
Coleman played a large part in turning around Reader鈥檚 Digest鈥檚 fortunes after its poor financial performance in the mid-Nineties. It is understood that there are no plans to replace him.
By appointing a publishing industry executive Yahoo! is attempting to diversify its management ranks beyond internet specialists and broaden its revenue beyond advertising. Earlier this month, the company admitted that advertising revenue would fall short of targets in the first quarter of 2001.
The company has also been troubled by recent senior staff departures, including European managing director Fabiola Arrendondo last month and head of sales Anil Singh last week.