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Friday, 16 February, 2001, 19:23 GMT
Yahoo bosses quit
Yahoo logo
Yahoo is one of the world's most widely viewed websites
The managing director of Yahoo Europe, Fabiola Arredondo, and the head of its Asian operations, Savio Chow, have both resigned.

Ms Arredondo has decided to leave the company to pursue private business interests, while Mr Chow is retiring to spend more time with his family.

News of Mr Chow's resignation came late on Friday, following confirmation of Ms Arredondo's resignation earlier in the day.

The departures will be a double blow for Yahoo as it faces a slowdown in advertising on the internet.

Searching for a replacement

Mr Chow was head of Yahoo's Asian operation, excluding Japan and South Korea.

A Yahoo spokeswoman in Santa Clara, California, said that Yahoo is searching for a replacement for Mr Chow.

No date has been set for his departure, but he is expected to leave before the end of the quarter.

In the interim period, Mr Chow's boss, Heather Killen, Yahoo's senior vice president of international operations, will take over as acting head of Asia.

Under Mr Chow's leadership, Yahoo has become a leading network in Greater China and South East Asia, said the spokeswoman.

"The company thanks Savio for his contribution," she added.

'Proud' to be in the team

Ms Arredondo, who informed Yahoo in December that she would be leaving, will remain with the company for an interim period to help manage a transition.

A search for her replacement is also underway.

The Guardian newspaper in London reports that Ms Arredondo had become frustrated by Yahoo's level of commitment to international expansion.

In a written statement, she said, "I am proud to be part of a team that has built one of the leading internet companies in Europe."

Page impressions balloon

Ms Arredondo joined Yahoo Europe in 1997, at a time when the site had activities in three European countries and 45 million page views a month.

Yahoo Europe now has operations in eight European countries and generated 1.4 billion page views in December.

"Fabiola has provided the leadership that has enabled Yahoo Europe to become one of the leading internet companies in Europe, achieving solid financial and overall business performance," said Yahoo president Jeff Mallett.

The number of employees under Ms Arredondo's control has increased from 13 to 500.

No major shift

But analysts believe that Arredondo's departure will not disrupt the business because of its strong brand name.

"The overall centre of the company is still the US," said Dan Bieler, an Internet analyst with Nomura in London.

Yahoo Europe is 100% owned by Yahoo in the US.

Ms Arredondo is the third high profile person to quit a leading European internet business in a matter of weeks, following similar departures at Terra Lycos and Tiscali.

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See also:

10 Jan 01 | Business
Yahoo warns of tough year ahead
20 Oct 00 | Business
Yahoo asks investors for patience
16 Nov 00 | Business
TheStreet calls time on UK operation
01 Feb 01 | Business
Terra Lycos chiefs step down
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