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YouTube recruits CFO from Yahoo [09/04/2006]

YouTube recruits CFO from Yahoo

SAN MATEO, Calif. (UPI) -- YouTube Inc., the San Mateo, Calif., company behind a popular video-sharing Web site of the same name, has recruited a Yahoo official to a senior position.

Gideon Yu has agreed to leave his treasurer and senior vice president for finance positions at Yahoo to become YouTube's first chief financial officer, The Wall Street Journal reported Saturday.

YouTube, which currently employs about 60 people, allows users to share videos online. The company says about 100 million videos are watched on the site daily.

Yu is one of the most prominent Yahoo officials to leave the company in recent months. Stock prices for the Internet business have dropped below 2004 markers, causing stock options in the company to act as less of an incentive for veteran executives to stay with the corporation, the Journal said.

Yu is expected to begin work at YouTube this month.

Copyright 2006 by United Press International

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