Yahoo!, the second biggest U.S. Web portal, has engaged the services of private equity veteran Jacqueline Reses as it struggles to reinvent itself and stay relevant.
Yahoo's chief executive officer, Marissa Mayer, has put Reses in charge of talent management and mergers and acquisitions. Almost a year in her tenure, Mayer is racing to reignite the company's growth and make it more competitive.
Since Mayer took over in July, Yahoo has purchased six startups - Stamped, OntheAir, Snip.it, Alike, Jybe and Summly. Mayer who, took over as the Web portal's fifth CEO in four years, had concentrated on talent acquisitions, an approach she advocated.
Mayer's strategy of using deals will hinge on the success of Reses, who is faced with the challenge of finding targets specializing in technologies that will make its pages and services more attractive .The company must also also be able to persuade the young and smart software geeks with their M&A deals to stick with Yahoo.
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