In its first major announcement since massive layoffs and a big revamp this month, Yahoo said former PayPal exec Sam Shrauger and insider Millie Spilman will become co-heads of a new, dedicated consumer commerce division.
Both will hold the title of senior VP, reporting to CEO Scott Thompson, who himself joined Yahoo from PayPal early this year. They will sit on Thompson’s executive leadership team.
Yahoo said the new commerce biz will focus on “delivering engaging and personalized consumer commerce experiences which will connect consumers to marketers and merchants.” Offerings will be customized in specific categories in which people are already transacting on the Web, like autos, travel, jobs, personals, real estate and retail. The unit will initially be made up of existing Yahoo properties but is expected to include new offerings over time.
Shrauger was most recently VP of PayPal’s global product and customer experience organization. He helped build its $78 billion merchant services business and developed products for the company’s entry into traditional offline retail payments.
Spilman most recently led marketing for Yahoo’s Americas region and has also worked at AOL, Time Warner, Meredith Corp. and Discovery Networks.
“Yahoo has a massive opportunity to be part of the transformation of commerce going on across the Internet today,” Shrauger said. “By harnessing the business’s deep data set and large customer base, we have all the right elements to make buying on the Web more fun, more engaging and therefore better for consumers,” he added.
“I’m thrilled to co-lead a new business that will bring together all of Yahoo’s commerce assets in one place for the benefit of our customers,” Spilman said.
In early April Yahoo announced plans to lay off 2,000 staffers and save $375 million as it looks to boost profits and focus on core areas like commerce where it could take better advantage of its broad reach.