Prabhakar Raghavan, Head Of Yahoo! Labs, Quits

Prabhakar Raghavan, head of Yahoo! Labs and strategy leader, has put in his papers and is leaving the company, according to All Things Digital. According to the report, he is all slated to join another Internet giant Google.  Ash Munshi, CTO of Yahoo!, will be replacing him.

Yahoo! has also confirmed the move. A company statement said, "Yahoo! thanks Prabhakar Raghavan for his dedication and contributions to Yahoo! for the past seven years. We wish him well in his next endeavour. Ash Munshi, CTO, will assume leadership for Y! Labs."

Another development happened earlier this week when Punitha Arumugam, group chief executive officer of Madison Media, quit the agency last week. According to the industry grapevine, Arumugam is also set to join Google as head of the agency and advertiser relations division, although Google has not confirmed this development. It may be recalled that Shailesh Rao, managing director, media and platforms at Google's Asia-Pacific operations, had quit recently.