Yahoo taps PayPal exec for new commerce group
By Alexei Oreskovic
SAN FRANCISCO (Reuters) - Yahoo Inc hired PayPal's former head of products to help oversee its newly-formed commerce group, as the Web pioneer looks for new ways to reignite growth.
Yahoo said on Monday that Sam Shrauger will co-lead the consumer commerce business, along with Mollie Spilman, who most recently led marketing in Yahoo's Americas region.
The announcement fills an important slot in the management reorganization unveiled last week by Yahoo Chief Executive Scott Thompson, the former President of PayPal, a unit of eBay Inc.
The commerce group is one of three businesses, along with media and connectivity products, that Thompson folded under Yahoo's flagship consumer products division in the reorganization that takes effect on May 1.
The commerce group includes a variety of existing Yahoo online properties, including real estate and job listings, and will include unspecified new offerings, Yahoo said.
Yahoo, which reports its first-quarter financial results on Tuesday, earlier this month announced plans to layoff 2,000 employees, or 14 percent of its staff.
Shares of Yahoo were down one cent at $14.78 in after hours trading on Monday.
(Reporting By Alexei Oreskovic; Editing by Andrew Hay)
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