Last Updated Mar 3, 2008 11:57 AM EST
Tim Cadogan, Yahoo's S.V.P. of Global Advertising Marketplaces, has resigned, the latest hemorrhage in the ongoing brain drain from the progenitor of search advertising.
The smart, affable Brit had successfully spearheaded the company's "Panama" effort, which wholly revamped the company's search advertising business, and was a prime mover in important acquisitions, including the online video ad provider, Maven Networks, the performance marketing firm, Blue Lithium and, most importantly, the online display ad exchange, Right Media. Cadogan is a nine-year search marketing veteran, having been in since the GoTo and Overture days. He is considered a pioneer in the field.
Cadogan resigns against the backdrop of Microsoft's ongoing hostile take-over bid, layoffs, and partnership talks with Rupert Murdoch's NewsCorp. Cadogan had been grumbling about Yahoo's managerial sclerosis for some time. After the Right Media acquisition, for example, Cadogan was heard to say, "Well, we just bought another nice little company. Give us six months and we'll f@$% them up, too."
Ironically, the person replacing Cadogan is said to be Mike Walrath of Right Media.