POSITION AND CANDIDATE SPECIFICATION YAHOO! SENIOR VICE PRESIDENT, AMERICAS Prepared by: James M. Citrin Will Schutte Greg Sedlock Maureen Carroll Assignment: 60128-043 Date: February 2013 Confidential: This document and the information contained within is confidential and is provided to the named recipient. This information has been prepared in good faith by Spencer Stuart but may require future verification or correction. Distribution or reproduction of this document and/or its contents is strictly prohibited. Senior Vice President, Americas February 2013 Page 1 POSITION SPECIFICATION Client Company Founded in 1994 by Stanford Ph.D. candidates David Filo and Jerry Yang as a way for them to keep track of their personal interests on the Internet, Yahoo! has grown into a premier digital media company. Today, Yahoo! stands out as one of the most-visited and most-trusted Internet destinations with uniquely paired innovative technology and human touch to personalize the digital world. The business focuses on creating a content, communications and community platform that delivers rich consumer experiences and advertising solutions across the screens of people’s lives — from desktops to mobile devices, from tablets to connected TVs. Yahoo! is focused on making the world's daily habits more inspiring and entertaining. By creating highly personalized experiences for our users, we keep people connected to what matters most to them, across devices and around the globe. In turn, we create value for advertisers by connecting them with the audiences that build their businesses. Yahoo! has been through extraordinary and well-chronicled leadership, business and board turmoil over the last few years. Under new control and guidance today, and with more than 700 million users, Yahoo! is in a unique position to transform one of the most- iconic brands and destinations on the Internet into an undisputed leading provider of highly relevant and engaging online experiences and content. Yahoo! is headquartered in Sunnyvale, California, and has more than 12,000 employees in 25 countries, provinces and territories. Total 2011 revenue was $4.98 billion and as of January 4, 2013 the company’s share price stood at $19.86, compared to $14.62 in December 2011. For more information, visit the pressroom (pressroom.yahoo.net) or the company's blog (www.yodel.yahoo.com). Position Summary The Senior Vice President of Americas will have the ability to holistically manage Yahoo!'s entire sales, sales development, media, business development and strategy organizations while setting the distinct roles and responsibilities within the Americas in order to drive top performance. In addition to revenue goal achievement, the leader will be counted upon to operate a broad-based sales organization that works in alignment and close partnership with Yahoo!'s product teams in order to better engage consumers and solve for advertiser needs. S/he will be expected to be the "voice" of the Americas region, serving as bridge between the region and the corporate teams. Additionally he/she will be a thought leader Senior Vice President, Americas February 2013 Page 2 within the company and a well-respected industry leader as Yahoo!'s primary externally facing advertising and media executive. The Senior Vice President of Americas will have leadership responsibility and oversight for Yahoo!'s entire online advertising revenue businesses for North and South America and as such, should approach the role with a general manager's mindset by thinking "top and bottom line". S/he will provide strong leadership discipline to the Americas organization with responsibility for leading a complex, geographically dispersed advertising sales organization in a media and technology company generating over a billion dollars in ad-related revenues. The role will report to Henrique de Castro, Chief Operating Officer at Yahoo!. Direct reports to the role are the Vertical Sales Leaders, Americas Field Sales Leader, Americas Solutions Development, Americas Ad Operations/Account Management. Indirect reports are: North America Media, North America Partnerships, and North America Strategy. Key Relationships Reports to: Chief Operating Officer Direct reports: Sales Leaders Americas Field Sales Leader Americas Solutions Development Americas Ad Operations / Account Management Other key relationships: North America Media North America Partnerships North America Strategy Major Repsonsibilities • Inspire, manage and lead the Yahoo! America sales organization to consistently be the leading advertising platform in the world. • Develop and manage the strategic development, articulation, communication, and implementation of all advertising revenue budgets and business development plans for Yahoo!’s Revenue group. In coordination with the executive team, be responsible for developing, the key sales and financial objectives and projections, both short-term and long- term. • Create a high performing team and winning culture by attracting and retaining top talent, managing performance, building capabilities and managing the careers and Senior Vice President, Americas February 2013 Page 3 development of a talented group of direct reports to ensure all team members fulfill their potential. • Provide strong leadership of Yahoo!’s diverse group of sales and business development professionals through intelligent, charismatic communications and a “hands on” approach to the job. • Bring to Yahoo! strong, established, and actionable relationships with key branded marketers; leverage this network, and the existing relationships of other Yahoo! executives, to further develop business partnerships with new clients. • Help lead the team to deliver advertising and media services to advertisers, their agencies, as well as other Yahoo! partners increasingly with integrated, cross- channel and cross-brand solutions. • Develop and maintain good relationships with key accounts, priority customers, partners and the industry at large, representing the company in a manner that builds trade quality and promotes the company’s reputation as an industry leader. • Serve as a key business partner and thought leader within the global leadership team and to other key executive stakeholders within Yahoo!’s executive team by bringing ongoing marketplace intelligence to bear on corporate planning, including anticipation of, and reaction to, the moves of key competitors and the dynamism of the global online marketplace. Senior Vice President, Americas February 2013 Page 4 CANDIDATE SPECIFICATION: KEY SELECTION CRITERIA Ideal Experience • At a minimum, the ideal candidate will bring 15 to 20 years of steadily progressing experience leading and scaling a national sales team in the context of a B2B technology company, global marketing organization, large distributed sales organization, or other relevant companies in the broader technology and media industries. • S/he will have an established reputation in the industry for innovation, intelligence and integrity. Preference will be given to candidates who have had general management experiences that they can bring to bear to help grow Yahoo!, both rapidly and profitably. Ideally, they will have established c-level relationships at top agencies/Fortune 100 brands and will possess a mastery of the media business with a full understanding of the various products and services that are available. • The candidate will have exceptional management skills in developing and executing sophisticated sales, tactics, plans, processes, systems and programs, as well as new business development initiatives. They will have fluency with varied techniques in sales organizational structure, compensation and processes, including in integrating sales and marketing to benefit clients. They will have the proven ability to lead change in a highly dynamic environment. • Ideally, the candidate will have knowledge of both sophisticated management and operational systems found in larger companies and the ability to operate effectively within a matrix environment, where influencing and relationship-building skills are essential. They will possess the credibility based on experience to operate at senior levels of Yahoo!, and in client organizations initiating a business discussion, building a relationship and closing business. • The candidate will be an effective, charismatic leader with a high degree of drive, energy and ability, who consistently produces results on time and on budget, and has the experience and personality necessary to gain the respect of executives at all levels of an organization. • A willingness to travel is required in order to drive the organization in a high performance culture. A Bachelors’ degree from an accredited and recognized institution of higher learning is also required with an advanced degree (MBA, equivalent) a plus. Senior Vice President, Americas February 2013 Page 5 Critical Competencies for Success Vision, Strategy and Cross-Functional Business Management The ideal candidate will be a “big picture” thinker capable of defining the industry environment and placing specific choices and priorities for the Senior Vice President of Americas role within that context. A creative, imaginative individual, he/she will possess the business acumen, curiosity, and ability to work across a diverse set of business interests, bringing rational focus to the efforts, and setting in motion a series of strategic and product initiatives designed to meet certain profit and business objectives. Team Leadership Skills The candidate will be a natural leader who inspires the organization. He/she will have built teams with shared goals across decentralized organizations. He/she will possess the ability and track record to attract, retain, develop, and motivate a diverse group of sales and business development professionals. Product Knowledge/Full Product Suite Knowledge A creative, imaginative individual who has the business acumen, curiosity and ability to work across a diverse set of products and business interests, bringing rational focus to the efforts, and setting in motion a series of strategic and product initiatives designed to meet certain profit and business objectives. Sales Expertise With responsibility for leading a complex, geographically dispersed advertising sales organization in a media and technology company generating over a billion dollars in ad- related revenues, the ideal executive will have a track record of consistently overachieving revenue targets, developing a high-performance team of cross-functional, intellectually adept sales leaders, and of closing large-scale deals with senior client-side executives. Ability to Scale Operations The ideal candidate will have generated significant advertising revenue scale in a media business by employing business-development creativity, marketing savvy and strategic account planning discipline, as well as a nimble, creative and tactical approach to partnering with major advertising clients. The ideal executive will have led and managed a broad-based advertising sales organization with innovation, both in organizational Senior Vice President, Americas February 2013 Page 6 structure and product set, and in responsiveness to a dynamic and fluid market environment. Gravitas / Executive Presence With exceptional business acumen, interpersonal communication skills and executive presence, the ideal candidate will have operated successfully on an executive team within a dynamic, high functioning media business. With a balance of analytical, strategic and leadership skills, the ideal candidate will have a strong bias and reputation for action, intelligence, decisiveness and hands-on operating skill.
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