Updated: Yahoo (NSDQ: YHOO) has hired former General Electric (NYSE: GE) executive Andrew Siegel as its new head of mergers and acquisitions. Siegel will be VP of corporate development at Yahoo and will report to SVP Mike Gupta, who is heading up a new corporate strategy, development, and treasury group, a spokeswoman tells us. Siegel had been at General Electric sine January 2005, according to his LinkedIn profile, serving as a general manager of corporate business development at the conglomerate and later as a senior managing director at GE Capital. Unclear how broad his responsibilities were at General Electric, but GE Capital is known for being extremely active on the M&A front.
Yahoo CFO Tim Morse tells the WSJ that Siegel will oversee both new purchases and divestitures. He’ll have his hands full on the latter, considering that Yahoo is shopping a host of its businesses, including Zimbra and Yahoo Small Business. Unclear what the status is of previous M&A chief Greg Mrva, although SAI reported earlier this month that Mrva had been asked to find another job at the company.