Yahoo may get closer to Google after hiring former Admeld chief executive Michael Barrett as its new chief revenue officer. Barrett, who has been a sales director at Google since the search giant bought Admeld, is a former colleague of Ross Levinsohn, Yahoo's interim chief executive.
Barrett's arrival at Yahoo is "a clear signal that Yahoo is about to make major changes to its ad business going forward. According to numerous sources, Yahoo is again mulling a plan to abandon or sell large parts of its ad tech business and rely on third-party vendors, including Google," writes Kara Swisher in AllThingsD. The new ad man will oversee Yahoo's advertising revenue and operations, including units in the U.S., Europe and Asia, and report to Levinsohn.
Barrett previously held top digital sales positions at Fox Interactive, where he worked with Levinsohn, as well as AOL and Yahoo, reports Ad Age. Fox Interactive is owned by News Corp., which also operates FINS.com.
Sales Reps Lose (WSJ)
The Supreme Court ruled that drug companies don't have to pay sales reps overtime. The ruling is a big win for pharmaceutical firms.
Penney Defection (WSJ)
J.C. Penney President Michael R. Francis is quitting after only eight months on the job. Ron Johnson, the CEO who arrived from Apple, will take on his responsibilities.
Fairfax to Cut 1,900 Jobs (WSJ)
Fairfax will cut 1,900 jobs, or almost 20% of its workforce over three years. About 20% of the job cuts will be from editorial staff, 20% from printing operations and 60% from other areas.
All Eyes on Best Buy Boss (WSJ)
Best Buy's interim chief executive, G. "Mike" Mikan, is receiving a prorated salary and bonus based on a $3.3 million benefits package. The Wall Street Journal reports that he appears to be campaigning for the job of CEO.
Carrefour Turnaround Could Cost Jobs (WSJ)
Carrefour, the world's second-largest retailer, will pursue a three-year turnaround strategy that includes reducing debt and cutting overhead. Unions have estimated that job cuts could reach 5,000.
Everyone's Scapegoat (AdWeek)
Since the beginning of 2012, new-business leaders at Draftfcb, DDB, JWT, Young & Rubicam, Deutsch LA and McCann Erickson have exited.
McGarryBowen's International Push (Ad Age)
Dentsu's McGarryBowen has hired Jane Barratt to be its chief operations officer, international. Barratt most recently was president of the New York office of WPP's Y&R.
Insecure Marketers (Marketing Week)
U.K. marketers are buckling under pressure. Twenty percent said they feel very insecure, up from just 2% in September, while 54% report their job is secure or very secure, down from 86% in September.
Planet Fitness' New Agency (AdWeek)
Philadelphia-based Red Tettemer + Partners has landed lead creative and media planning duties for Planet Fitness. Responsibilities include developing new creative for television and other channels.
Make More T-Ads (Ad Age)
Marketers take note: A new study shows that 54% of tablet users prefer free, ad-supported apps over paid ones, up from 40% a year ago.
Buzz Around the Office
Professional Daredevil (WSJ)
A man crosses the 1800 feet from the U.S. to Canada on a 2-inch thick tightrope above Niagara Falls.
List of the Day: Expense Etiquette
Here's how to handle traveling and dining on the company's dime.
1. Look at what your colleagues order at dinner before your place yours.
2. Don't be cheap and expense a $3 parking stub.
3. Keep all your receipts.
(Source: The Daily Muse)