NEW YORK (Reuters) - Yahoo Inc chose Wayne Powers, a former Time Inc executive, as its new senior vice president of North American ad sales.
Powers will report to Yahoo’s newly appointed executive vice president of the Americas, Ross Levinsohn, the company said on Wednesday.
Powers, 49, has been president of the media group of Time, the magazine division of Time Warner Inc <TWX.N, and helped launch Time’s Digital Network, an online ad platform.
Yahoo is expected to remain the No. 1 seller of display ads in the U.S. by revenue this year, with a 15.4 percent share of the market, according to eMarketer, with Facebook trailing in second place with 9.5 percent.
But Facebook, the world’s No. 1 social network, is grabbing a bigger portion of the total number of display ads viewed on the web. Facebook accounted for nearly one in four display ad impressions in the U.S. in the third quarter, according to comScore.
In its third-quarter, Yahoo said revenue from search ads fell 7 percent year-over-year, though executives said the 1 percent increase in revenue per search marked the first increase in two years.
The hiring of Powers comes as Yahoo has seen a high level of turnover in its executive ranks, including the former head of North American revenue, Joanne Bradford, who left the company in March, and U.S. head Hilary Schneider, who is being replaced by Levinsohn.
Shares of Yahoo were down 0.2 percent at $16.94 on Nasdaq.
Reporting by Liana B. Baker, editing by Gerald E. McCormick