The man who’s spent that last two years reducing European business costs for Yahoo is leaving the company.
Toby Coppel, who was brought in by then-chairman Terry Semel in 2001 is leaving the company in a move that Yahoo says is unrelated to the departure of chief executive Jerry Yang. He will be replaced by Rich Riley, who currently heads Yahoo’s advertiser and publisher group in Europe. Riley will be based in the new company European HQ in Rolle, Switzerland, as Yahoo has moved away from London, the Guardian reports.
This all arrives on the heels of news that Yahoo has sold its European price-comparison and shopping site Kelloo to Jamplant for a great deal less than the $621 million it originally paid.
Yahoo president Sue Decker said:
"The appointment of Rich Riley represents the next phase in the evolution of our European and Canadian businesses, enabling us to build on the great foundations laid by Toby Coppel. We are committed to continuing our growth as a leader in Europe and Canada."
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