Mayer names new CFO for Yahoo

Yahoo chief executive Marissa Mayer has hired IT veteran Ken Goldman to replace Tim Morse as the company's CFO.

Goldman will join Yahoo effective Oct. 22 and report directly to Mayer, the company announced late-Tuesday in a statement.

CEO Mayer said his track record of leading the financial strategy and stewardship of many successful public and private companies made Goldman "an ideal choice for Yahoo as we enter our next phase of growth".

Goldman was previously the CFO of security vendor, Fortinet. He also spent about six years as senior vice president of finance and administration and CFO of Siebel Systems, until the company was acquired by enterprise software giant Oracle in January 2006.

Yahoo's incoming CFO is the latest management change by Mayer, who became CEO two months ago, with some top executives departing and new ones joining. In August, former Amazon.com executive Kathy Savitt was hired as chief marketing officer.

Besides outgoing CFO Morse, interim CEO Ross Levinsohn left Yahoo in July.

On Morse, who has been with the company since 2009, Mayer said in the statement: "I've personally relied on Tim's knowledge and leadership in my first few months at Yahoo. I know I speak for everyone in wishing him the best."