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Yahoo Japan freshens up management team

1:12 am on Mar 2, 2012 (gmt 0)

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Yahoo Japan freshens up management team [totaltele.com]

Yahoo Japan Corp. on Thursday announced a freshening-up of its management team, installing much younger executives as Masayoshi Son, its chairman and head of its biggest shareholder Softbank Corp., called for the company to stay competitive in the fast-moving Internet industry.

Yahoo Japan, which operates the country's most popular Internet portal site and is one-third owned by US Internet giant Yahoo Inc., said Manabu Miyasaka, 44, who currently heads the company's online shopping and auction services, will become chief executive April 1.

Incumbent CEO Masahiro Inoue, 55, will step down from the board in June following an annual shareholders meeting.

With seven other new executive officers aged between 35 and 44 also due to take up their positions from April, the company said the average age of its executive suite will drop to 41 from 50 as it looks to keep up with changes in the industry spurred by increased use of social media and smartphones.