Yahoo hires former Microsoft exec to boost revenue

SUNNYVALE — Yahoo Inc. has hired former Microsoft Corp. executive Joanne Bradford to help the Internet company try to accelerate its revenue growth after several years of disappointing results that have battered its stock.

The appointment announced Tuesday fills a void created by the latest in a long line of departures in Yahoo's executive ranks. David Karnstedt is stepping down as Yahoo's senior vice president of U.S. sales to work in the venture capital industry.

Bradford, who resigned as the head of Microsoft's media network six months ago, will be Yahoo's senior vice president of U.S. revenue and market development and report to the company's top ad executive, Hilary Schneider.

Bradford left Microsoft for a job at television advertising service Spot Runner shortly after Microsoft made an unsolicited bid to buy Yahoo in a deal initially valued at $44.6 billion.

Microsoft later upped the offer to $47.5 billion and then withdrew the bid in a disagreement over Yahoo's value.

The negotiating breakdown infuriated many Yahoo shareholders, intensifying the pressure on the company's to fulfill a promise to increase the company's net revenue by at least 25 percent in each of the next two years. That projection is well above Yahoo's net revenue growth of 11 percent so far this year.

Yahoo shares fell 68 cents Tuesday to $17.58 — nearly 50 percent below Microsoft's last takeover offer of $33 per share.

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