Andrew Kirk, who handled PR for Tina Brown for nearly a decade, has moved to Yahoo for the press relations spot to firm up its image and that of CEO Marissa Mayer, the former Google star.
Mayer is on the cover of Fortune’s May 19 issue for a hard-hitting story called “Marissa’s Moment of Truth.”
The magazine believes the reason for the doubling of the value of Yahoo stock to $35 was since Mayer joined two years ago was driven by its 24 percent ownership in Chinese Internet sensation, Alibaba, which is of the verge of an IPO. That IPO could be worth $40B for Yahoo.
Fortune reports that Yahoo’s advertising sales, which generates about 80 percent of revenues, “remains a mess” because of pressure from Google and Facebook.
The Sunnyvale, Calif.-based company will not be on Fortune’s Top 500 company when it comes out next month for the first time in nine days.
The New York Times added to Yahoo’s woes with a report about Mayer’ s over-the-top $214M compensation package since she assumed the helm.
Mayer’s high-profile hire of Katie Couric for the global anchor position also may unwind with reports today that she may reunite with Matt Lauer as “Today” co-host as a fill-in for Savannah Guthrie, who eyes maternity leave.