Changes Abound at Yack
Yack (www.yack.com) announced that president and CEO Jeff Morris stepped down today to "pursue other interests." Replacing him is Steven J. Fredericks, who was hired as COO and CFO. Morris has additionally resigned from the board but will be available for consulting.
Last year, Yack switched from a B2C ad-supported model to B2B. The company said that this new model required "new skill sets" which Fredericks can better help achieve.
Commenting on these changes, Fredericks said: "Jeff Morris has been instrumental in Yack's ascendancy to preeminence in its category. I will personally miss the daily interaction we have had together, but also look forward to continued dialogue with Jeff, whom I regard as one of the foremost visionaries in the area of convergence."
Yack also announced it is consolidating its "bicoastal divisions into New York" and was implementing an "immediate downsizing of its staff." The actual number of employees laid off was not announced, however.
Recently, Yack has taken down its consumer-oriented guide and replaced it with its B2B services. It has also taken to calling itself "Yack Media Services" rather than Yack.com.