Yahoo CMO Kathy Savitt departs for Hollywood TV, movie studio STX Entertainment

A Yahoo spokeswoman sent along the following statement about Savitt: “We appreciate her contributions to Yahoo over the past three years and wish her well”.

While Savitt enjoyed increasing responsibility at Yahoo under Mayer, Re/code says the relationship between the two is not as close as it once was. During her tenure, the company launched more than a dozen new digital magazines and original video programming, including live concerts via Yahoo Live Nation.

Savitt now serves as the Chief Marketing Officer and Head of Media at Yahoo, Inc.

“Kathy’s combined expertise in marketing and digital content creation is unparalleled”, said Simonds.

STX said Friday that Kathy Savitt will become the president of its digital business in October.

The tech giant’s chief marketing officer announced today that she is taking a new role at STX Entertainment as president of the motion picture and television studio’s digital arm. “We are going to create a funnel to bring those premium story tellers to the space”. The Wall Street Journal wrote a detailed piece past year that analyzed the rise of Savitt, a former public relations executive and entrepreneur who was “a key architect in Ms. Mayer’s plan to turn around the Internet portal”, the Journal reported.

Yahoo Chief Executive Marissa Mayer had tasked Savitt with reforming Yahoo’s flagging brand to appeal to a younger generation of consumers.

As in all companies, some departures are like Airey’s, while others are more of a don’t-let-the-door-hit-you-on-the-way-out situation.

A veteran marketer at companies like American Eagle Outfitters, Savitt turned her eye to entrepreneurship in 2009 as the founder and CEO of social commerce Lockerz, which shut down in 2014.

Savitt’s exit comes as Yahoo’s media unit is about to undergo a major shakeup, according to a report by Recode.

STX Entertainment is led by prolific businessman Robert Simonds and was co-founded by Bill McGlashan, Managing Partner of TPG Growth, a division of leading global private investment firm TPG, which has $75 billion of capital under management.