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FOR IMMEDIATE RELEASE | ||
S. I. Lee, Global Veteran and Yahoo! Korea CEO, to Assume Leadership of Region
SYDNEY, February, 20 2002 - Yahoo! Inc. (Nasdaq: YHOO), a leading global Internet communications, commerce and media company, today said that Tony Faure, 40, will step down as regional vice president and managing director of South Asia. After five years of building Yahoo!'s leadership in the region, which encompasses Yahoo! Australia & NZ, Yahoo! Singapore and Yahoo! India, he is leaving Yahoo! to pursue personal business interests. Yahoo!'s South Asia properties are among the leading sites in their respective countries in unique audience, reach and page views, according to Nielsen//Netratings. Mr. Faure will remain in his role for an interim period of several months to facilitate the consolidation of Yahoo!'s South Asian operations under the leadership of S.I. Lee, CEO of Yahoo! Korea and regional vice president. Mr. Lee, who joined Yahoo! in June 2001, is a seasoned leader with multi-country management experience from Asia Online, Pepsi Cola International, Bristol Myers Squibb, S.C. Johnson Wax and Procter & Gamble. He brings a strong understanding of global and individual country issues having lived and worked in countries that include the U.S, Korea, Singapore, Thailand, Malaysia and Hong Kong, with regional responsibilities covering all of Asia Pacific. Mr. Lee will oversee all of Yahoo!'s South Asian operations, augmenting his leadership of Yahoo! Korea. "As our first employee in South Asia, Tony has done a tremendous job of helping to build Yahoo!'s into a leader in the region," said Jeff Mallett, president and chief operating officer. "As a result of his efforts, and those of his local teams, we are very well positioned in strategic and growing markets. We appreciate his many contributions and his commitment to facilitating a smooth transition as he passes his leadership baton to the highly capable S.I. Lee." "Five years ago, Tony was one of our earliest global pioneers as the founder of Yahoo! Australia & NZ," said Jerry Yang, co-founder and Chief Yahoo. "He has not only been a great leader within his region, he has been a significant contributor to Yahoo!'s culture and success over the years. We thank Tony for his passion and spirit, and wish him all the best." "I've been very fortunate to be part of this wonderful company and to have had the opportunity to build its strong foundation in South Asia," said Faure. "Local consumers have clearly indicated that we have the best content and services on the Web and the regional teams remain committed to delivering on that promise. I look forward to working with S.I. Lee to ensure that South Asia maintain its strong momentum." Mr. Faure joined Yahoo! in July 1997 as the general manager of Yahoo! Australia & NZ. He was promoted to managing director and regional vice president in April 2001. Nic Jones, current managing director of Yahoo! Australia & NZ has been with the company for two years and will continue in his current position, reporting directly to S.I. Lee.
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