Auction.com Taps CFO Morse as New CEO

IRVINE, CA—GlobeSt.com Thought Leader Auction.com has tapped Tim Morse, formerly CFO and interim CEO at Yahoo! Inc., as its new CEO. Co-founder Jeff Frieden, the current CEO, will remain fully engaged with the company as its executive chairman. Morse joined Auction.com in May 2014, and has served as its CFO.

Frieden counts himself “very proud of what we've accomplished, of the team we've put together and of the pivotal role Auction.com has played in moving real estate transactions online.” To date it has sold more than 165,000 residential and commercial properties online.

As the company, which he co-founded in 2007, has grown and evolved, Frieden began looking for “someone with experience running a larger, public company—someone who understands technology, can work with the capital markets and who has the operational expertise to take our vision and execute it on a global scale. I think Tim is the perfect person to take the company to the next level, and his leadership will help Auction.com expand our ongoing efforts to transform how real estate is bought and sold.” For his part, Morse considers himself “humbled” that Frieden has entrusted him “with the company he created.”

Along with his positions at Yahoo!, Morse was previously a member of the board of directors of Alibaba Group; CFO at online advertising start-up Adap.tv, which was acquired by AOL, Inc.; CFO at semiconductor manufacturer Altera Corp.; and CFO and general manager of business development for GE Plastics. Morse spent 15 years with the General Electric Co., where he held positions of increasing responsibility with GE Capital, GE Corporate and GE Appliances.