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Yahoo names Altera's Morse as CFO

Morse will replace the outgoing Blake Jorgensen at the end of the month, becoming CEO Carol Bartz's most high-profile hire to date in her six months at the helm.

Yahoo has found a new chief financial officer, naming Tim Morse to replace the recently departed Blake Jorgensen.

New Yahoo CFO Tim Morse Altera

Morse, 40, comes to Yahoo from Altera, the Silicon Valley chip company, where he was senior vice president and chief financial officer. He's perhaps the most high-profile hire to date for new CEO Carol Bartz, who asked Jorgensen to leave in February but has kept him on the job while she searched for his replacement.

Jorgensen will remain as Yahoo's CFO until June 30th, a Yahoo representative said. Morse, also a veteran of General Electric, will start working at Yahoo on June 17 and formally take over the CFO job on July 1.

Bartz is slowly filling out her roster of lieutenants, having brought chief marketing officer Elisa Steele into the fold in February amid a significant reorganization. Yahoo is still looking a head of international operations after hiring Jeff Russakow in April as the head of a new customer advocacy group created by Bartz.

It's unclear whether Morse's arrival will cause further changes to a Yahoo that has been suffering from "reorg fatigue," as Bartz noted in February when announcing yet another reorg. In recent comments to analysts and the press, Bartz has called for Yahoo to cut costs in discretionary areas and simplify its processes, both areas likely to fall under Morse's watch.

Corrected at 3:07 p.m.: The story was updated with the correct spelling of Blake Jorgensen's name, and the hiring of Jeff Russakow as Yahoo's head of customer advocacy.