Dive Brief:
- Yahoo’s media unit is in a state of flux, and the exit of CMO and Head of Media Kathy Savitt marks just the latest high-profile loss.
- Savitt was an early hire of CEO Marissa Mayer and will become president of digital for STX Entertainment.
- Other recent changes at Yahoo include the departures of the SVP of advertising and data platforms and interim CISO.
Dive Insight:
There are rumblings at the top of Yahoo, particularly in the media unit. The latest high-profile departure, Kathy Savitt, CMO and head of media, will be joining Hollywood studio STX Entertainment as president of digital. Last month Scott Burke, SVP of advertising and data platforms, left Yahoo. After only one month on the job as interim chief information security officer, Ramses Martinez, made his exit to join Apple in a security role. Recently, Dawn Airey, head of Europe and other international units for Yahoo, also left the company after a two-year tenure.
Savitt’s departure is seen by industry insiders as the most significant move in a major shake-up in Yahoo’s media unit foreshadowing layoffs and adjustments. The high-level changes and defections are being seen as attrition due to Yahoo having problems getting back to its core advertising business. At the same time Yahoo hasn’t been able to create an app or new service that takes the tech space by storm. It’s also hitting an IRS roadblock in a planned tax-free spinoff of its 15% stake in Alibaba, the Chinese e-commerce company.