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Yahoo Interim CEO Levinsohn Shuffles Web Portal’s Management

May 17 (Bloomberg) -- Yahoo! Inc. interim Chief Executive Officer Ross Levinsohn reorganized the management team of the struggling Web portal after taking the helm earlier this week.

Mickie Rosen was named head of global media and commerce, according to a company memo from Levinsohn obtained by Bloomberg News. Mollie Spilman was named chief marketing officer, while Sam Shrauger, a former executive at EBay Inc.’s PayPal unit hired last month to run a commerce unit, will leave the company, the memo said.

Levinsohn stepped into the CEO role after Scott Thompson resigned following an inquiry into errors in his academic record. Thompson, whose exit also was part of a board restructuring, had joined the company in January after previous Yahoo CEO Carol Bartz was fired in September. Thompson was formerly president of PayPal.

“I’m fired up and I hope you are too,” Levinsohn said in the memo to employees. “I believe in the power of what we’re doing.”

Yahoo, based in Sunnyvale, California, fell 2.7 percent to $14.87 at the close in New York. The shares have fallen 7.8 percent this year.

To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net.

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