YAHOO! is adding a new position to oversee the company's services for businesses, which have to grow if the internet giant is to reduce its reliance on advertising.
Yahoo has hired James A Fanella in the new post of senior vice president for business and enterprise services. He will direct the Webcasting services and customized Intranet portals that Yahoo sells to large companies.
James A Fanella was group president and general manager of global services for CommerceOne, where he oversaw operation of e-marketplaces, systems integration, creative and interactive marketing, strategic planning, and supply-chain management.
Advertising generated 90 per cent of last year's $1.1 billion in revenue for Yahoo. That was down to 82 per cent in the first half of this year, and Yahoo is aiming to get it to 80 per cent by the end of 2001.
Yahoo shares rose 53 cents to close at $14.79 in trading Thursday on the Nasdaq Stock Market.