Yahoo has tapped former Google exec Michael Barrett to help revive its floundering advertising business, the company announced Monday. Barrett, who joined Google late in 2011, previously worked alongside current interim CEO of Yahoo, Ross Levinsohn. Barrett will serve as Yahoo’s executive vice president and chief revenue officer.
“Michael Barrett is regarded as one of the most successful and influential executives in media and technology,” Yahoo said of the hire. Google, naturally, declined to comment, The Wall Street Journal said.
Yahoo is currently in recovery mode following Scott Thompson’s ouster as Yahoo CEO. While the company’s Q1 revenue was up from a year earlier, Yahoo’s core advertising business fell 4 percent during the same period. Barrett’s experience in target advertising, which helped companies such as Myspace and FoxSports.com, will be seen as a key asset to help turn Yahoo’s fortunes around when he assumes his position next month.