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This time a change in the corner office ranks at Yahoo comes from Europe, where their managing director of search will bolt in favor of becoming a consultant.

Regional VP Stephen Taylor came to Yahoo when the Internet company picked up Overture, which became Yahoo’s search marketing arm. He’ll follow Greg Coleman out the door in the wake of Yahoo’s latest reorganization.

MarketingWeek UK said Taylor isn’t leaving because of the changes on the US side. Those changes have seen Yahoo president Sue Decker’s close associate, Hilary Schneider, continue to gain power within the company.

“There are a lot of interesting things going on in the industry and I’m having many conversations with lots of interesting people, but can say no more than that,” Taylor told MarketingWeek of his departure.

Whatever the reason, Taylor is leaving at the end of what has been a pretty good news week for Yahoo. Analysts from Bear Stearns and Lehman Brothers have made positive comments about Yahoo’s stock, and set targets in the $30-$31 range for it.

Yahoo, Europe, Stephen Taylor, Search

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