News Summary: Yahoo hires chief revenue officer

AP News
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Posted: Jun 18, 2012 4:03 PM
News Summary: Yahoo hires chief revenue officer

NEW HIRE: Yahoo is hiring Michael Barrett, a former colleague of its interim CEO Ross Levinsohn, to oversee the troubled Internet company's efforts to sell more online advertising. Barrett most recently worked at Internet search leader Google Inc.

OLD CO-WORKERS: Barrett and Levinsohn were both Internet executives at Rupert Murdoch's News Corp. when it owned MySpace, once the top online social network.

CONTEXT: Although Yahoo's website remains among the most popular Internet destinations, the company has struggled to bring in more advertising revenue as Google and online social network Facebook Inc. introduced more compelling services and lured away advertisers.