Web portal Yahoo on Monday appointed former Knight Ridder executive Daniel Finnigan to oversee its job-listings subsidiary HotJobs.com.
Finnigan's appointment comes a few weeks after Yahoo unexpectedly announced Dimitri Boylan, CEO and co-founder of HotJobs, would step down at the end of March. Yahoo in February completed its acquisition of HotJobs for about $439 million in cash and stock in a move to boost its online listings services.
Since 1999, Finnigan had served as president of Knight Ridder Digital, which develops and manages the Internet properties of newspaper publisher Knight Ridder. He will report to Greg Coleman, Yahoo's executive vice president of North American operations. Finnigan will be based in New York City.
Yahoo's purchase of HotJobs underscores the company's efforts to boost non-advertising revenue. HotJobs generates the bulk of its income from employers and recruiters looking to advertise job vacancies.
Terry Semel, chief executive of Yahoo, has publicly stated his intention to reduce advertising revenue to 50 percent of the company's total sales to avoid dependency on the revenue stream.
News source: Cnet
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