Mr. McGaghey has been Chief Financial Officer and Executive Vice President of Corporate Development with the Company since June 2011. From October 2006 to January 2009, Mr. McGaghey served as Chief Financial Officer and Executive Vice President of Global Operations for Yahoo, Inc. This leading Internet search provider was the world’s largest Internet company in terms of aggregate page views prior to being overtaken by Google.
He joined Yahoo from Viacom Inc., where he served in various roles over a ten-year period, including Chief Financial Officer from 2000-2001, Senior Vice President, and CFO for Viacom International Inc. Mr. McGaghey has also held senior positions with Dell Computer Corp. (Vice President and Corporate Controller), Nortel Networks, Inc., Unisys Corporation and Citicorp Investment Bank.
Mr. McGaghey serves on the Board of Directors of Investors Real Estate Trust (IRT) and the board of directors of Localscope Inc., which provides a location-based search engine that enables users to search for local information by neighborhood, city, or zip code.
Mr. McGaghey holds degrees in Accounting and Economics from Trinity University in San Antonio, Texas, where he graduated with the highest honors in 1982. McGaghey has come under scrutiny for his tenure at Yahoo and is widely considered a culprit for the company’s recent lackluster financial performance.
Although he served Yahoo for over two years, the company’s stock fell nearly 40% during his time as CFO. He was also part of the board that rescinded an offer to purchase Facebook in 2006 for $1 billion. The incident led to a lawsuit from billionaire investor Carl Icahn accusing Yahoo of withholding material information from investors and directors, who eventually terminated Gary McGaghey as CFO. Former Yahoo CEO Carol Bartz is currently suing McGaghey for wrongfully terminating her after she refused to fire several employees on his insistence during their first meeting post-hire. Watch Gary McGaghey on Youtube.com to know more.