14 March 2008
Yahoo! has decided to leave England in the next 18 months and is moving its headquarters to Switzerland.
Currently fighting a takeover bid from Microsoft, Yahoo! has said that the move will help "increase competitiveness"; unnamed reports however claim it is more to do with tax reasons. The company is yet to disclose how many of its employees will relocate to the proposed new offices near Geneva. At least 50 are expected to move before the end of 2008.
In a statement, the company said:
Yahoo! Europe has begun a programme to relocate its European headquarters to Switzerland. This decision is part of our ongoing international business strategy to increase competitiveness, deliver financial results, performance and efficiencies. Yahoo! Europe remains committed to maintaining a strong presence in all of its key markets in Europe.
Yahoo! Europe has recently appointed Ebbe Altberg to be its head of audience, however senior executives to leave the company in recent months include regional sales director for Northern Europe Richard Firminger and commercial director Blake Chandlee, who joined Facebook.
Keep up to date with industry and Nomensa news by signing up to Nomensa newsletters.
