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In yet another personnel shakeup for tech giant Yahoo! (Nasdaq: YHOO ) , CFO Tim Morse will be replaced by Ken Goldman, effective Oct. 22. Morse has been with the company three years.
Goldman joins Yahoo! from threat management technology company Fortinet, where he's been CFO for the past five years. Prior to Fortinet, Goldman served in various financial roles at companies including Siebel Systems, Excite@Home, Cypress Semiconductor, and VLSI Technology. He has more than 30 years of experience.
He will be responsible for Yahoo!’s global finance functions including financial planning and analysis, controllership, tax, treasury, and investor relations. He will report directly to Yahoo! CEO Marissa Mayer, who joined the company from Google a couple of months ago. Using information in regulatory filings, Reuters is reporting that Goldman will receive up to $18 million in salary, bonuses, restricted stock, and stock options over the next four years.
"Yahoo! is an iconic brand with an incredibly strong business model and balance sheet," said Goldman in a Yahoo! press release. "I believe there is a lot of runway ahead for this business, and I look forward to working with Marissa and the rest of the executive team as we define Yahoo!'s future."