Yahoo has officially tapped Ned Brody—who held a number of executive titles for AOL during the last decade—to run its ad sales for North America and South America. The announcement ends months of speculation that Yahoo CEO Marissa Mayer and her team were working to bring Brody to the Sunnyvale, Calif.-based Internet company.
As svp of the Americas, Brody will be charged with overcoming the considerable challenge of convincing brands and agencies to spend more on Yahoo’s properties. The firm’s ad revenues have been on the decline in recent quarters because consumers are increasingly accessing Yahoo on mobile devices. Mobile ads are priced lower than those viewed on desktops, hurting the company’s bottom line.
Yahoo’s second-quarter display ad sales revenue was down considerably compared to the year-ago period, falling 11 percent, or $50 million, to $423 million. Search was up 5 percent to $403 million.
Brody’s arrival effectively ends a tug-of-war between Yahoo and AOL that began during the spring. In April, AllThingsD first reported that the digital ads veteran was being targeted by Yahoo. Brody’s defection to the rival likely proved to be a punch in the gut to AOL CEO Tim Armstrong, who has been working vigorously to reinvent the pioneering Web company.
In early afternoon trading Tuesday, shares of Yahoo were up 2.19 percent, or 59 cents, to $27.72.