Yahoo has hired a new head of mergers and acquisitions–former General Electric (GE) M&A exec Andrew Siegel, who will now be VP of corporate development.

Yahoo (YHOO) CFO Tim Morse dropped the news with exactly no details about that title in an interview with The Wall Street Journal about the Silicon Valley Internet giant’s third-quarter earnings.

Another question apparently not answered was what exactly is the status of its current top M&A exec, Greg Mrva–who has had the title Siegel has now posted on his LinkedIn profile–as well as that of VP of mergers and acquisitions more recently.

In other words: Where the heck is Greg?

BoomTown was considering a search party–get it?–if Yahoo hadn’t outsourced that to Microsoft (MSFT). Thus, Plan B: Mrva milk cartons!

On Facebook, Mrva is still listed as being in the Yahoo network, although there was a report floated recently by Silicon Alley Insider that he was asked by Morse to leave his M&A job at Yahoo and find a new one at the company.

Whatever the situation–either Mrva running it with Siegel or being hipchecked out by him–helming M&A at Yahoo can’t be a fun job right now, given that the company has been looking to sell quite a few of its assets, including its Zimbra open-source email business, its personals unit, its HotJobs online classified business and many more to come, said sources.

In fact, in a recent post, BoomTown wrote: “Mrva’s new job title should be: VP of un-mergers and de-acquisitions.”

The effort to unload big swathes of Yahoo is part of an aim by new management to slim down its diverse portfolio, even as it strives to redefine itself with a new, pricey marketing campaign that seeks to position the company primarily as a consumer offering.

Mrva has been the main exec shopping Yahoo properties around, according to many sources, a job that will now apparently be Siegel’s.

Yahoo CEO Carol Bartz has said the company is also looking for acquisitions, mostly small, so perhaps there will be more to do for the company’s dealmakers than running an Internet garage sale.

I contacted Yahoo to find out what’s up with Siegel and Mrva, a well-liked exec in Silicon Valley, and also have reached out to him. When either responds with anything of note, I will update here.

According to numerous sources, Yahoo has been shopping around Zimbra, the open-source email company it bought in late 2007 for $350 million.

Zimbra is only one of the many assets of Yahoo (YHOO) that are now on the block, including its personals business, its HotJobs online classified unit and many more to come, said sources.

The effort to unload Zimbra is yet another sign that the company is trying to slim down its diverse portfolio, even as it strives to redefine itself this week with a new, pricey marketing campaign that seeks to position Yahoo primarily as a consumer company.

As first reported by BoomTown last week, Yahoo will be introducing a massive branding campaign tomorrow on the second day of Advertising Week in New York.

The new focus Yahoo is aiming for with advertisers is to stress its huge size and scale with consumers. The troubled Internet giant is still one of the most trafficked sites on the Web.

And consumers will also be reminded of this. The Wall Street Journal wrote a follow-up story yesterday on the marketing effort, noting that the $100 million campaign’s tagline is “It’s You.”

Get it? The “Y” in Yahoo is the same as the one in You!

The details of the plan will be made public tomorrow at a press conference immediately after a keynote speech–titled “Yahoo’s Consumer Revolution…Round II”–that the company’s new CMO, Elisa Steele, is set to deliver at the Interactive Advertising Bureau’s MIXX conference.

The goal, said several sources at Yahoo, will be to stress Yahoo’s consumer business over all others, which are supported mostly via brand advertising, leaving more extraneous ones out in the cold.

Which is why Zimbra–like a lot of other Yahoo properties–is being shopped around by its top mergers and acquisitions exec, Greg Mrva and others.

(Mrva’s new job title should be: VP of un-mergers and de-acquisitions.)

Backed by Benchmark Capital, Redpoint Ventures and Accel Partners, Zimbra was an innovative start-up whose main business was to provide clients–including Comcast (CMCSA), many ISPs and a number of colleges–with white-label email software capabilities.

Yahoo bought the company to goose that business, whose main rival has been Google (GOOG)–along with using Zimbra technology to improve its massive consumer email offering, also under siege from Google.

That integration has gone slowly, and Yahoo now has less interest in selling email products to others.

But the price Yahoo would get, many think, would be significantly lower that what it paid for Zimbra.

Nonetheless, potential buyers include Comcast and Google, as well as private-equity investors.

In addition, it is not out of the question that its former venture investors could be interested in a classic Silicon Valley buyback.

Zimbra’s founder and CEO, Satish Dharmaraj, who left Yahoo earlier this year, is now working at Redpoint.

Here is a video interview I did with Dharmaraj in early 2008, after the Yahoo deal was struck:

You could see this one coming a mile out: After telling users they could not upload new videos late last year, Yahoo is finally shutting down Jumpcut.

“This was a difficult decision to make, but it’s part of the ongoing prioritization efforts at Yahoo!,” said Jumpcut in a note to users today.

That’s code for the stylings of new CEO Carol Bartz, who is hard at work axing many of Yahoo’s similarly lagging services.

She has reportedly been readying plans to sell off Yahoo’s lackluster HotJobs employment listing service, for example. And there will surely be more to come, from the many companies Yahoo has gobbled up in the last few years and has done nothing much with.

Such as the sassy video editing service, which was bought by Yahoo in 2006 amid high hopes of the Internet giant becoming a big player in the hot online video market.

That honor, as it turned out, went to YouTube, which was more cats-on-skateboards-oriented than tools-oriented.

Yahoo (YHOO), ironically, was poised to buy YouTube in the month after it grabbed Jumpcut, until it was snatched away in a last-minute acquisition grab by Google (GOOG).

Now, Jumpcut is a wrap.

Curiously, Yahoo is making users download the videos to their computers, and then suggests they upload them to another Yahoo property, Flickr, which now allows video.

Why the company doesn’t just let people migrate the videos is probably due to the silos of tech at Yahoo, which are infamous and which the company is trying to fix.

But not today.

Thus, Jumpcut sent this note to its customers:

Dear Jumpcut user,

After careful consideration, we will be officially closing the Jumpcut.com site on June 15, 2009. This was a difficult decision to make, but it’s part of the ongoing prioritization efforts at Yahoo!

Very soon, we’ll be releasing a software utility that will allow you to download the movies you created on Jumpcut to your computer. We’ll send instructions to this email address when the download utility is available.

Once you download your movies, you may choose to upload them to another site such as Flickr, which now allows video uploads. You can find out more here: http://www.flickr.com/explore/video/

Thanks for your understanding and thanks for being a part of Jumpcut.

The Jumpcut Team

And, for a trip down memory lane to happier times, here is the memo Yahoo wrote when it bought the San Francisco start-up:

SEPTEMBER 27, 2006

Jumpcut Joins the Yahoo! Video Family

Yes it’s true!

Jumpcut just announced they’ve agreed to join us, which will make Yahoo! Video an even better place for people to create, share, and discover great video online. If you haven’t heard of Jumpcut, it’s a San Francisco-based startup that has a passionate community of users and a great suite of online video editing capabilities.

Ever since Yahoo! Research Berkeley launched the International Remixer, our interest in this space has been pretty clear–we couldn’t stop talking about how cool it is to mashup multimedia of all kinds.

So needless to say, we are very happy to have Jumpcut join the Social Media group here. They’ll be bunk-mates with Flickr, and just around the virtual corner from Delicious, and Upcoming.

Please head over to Jumpcut’s blog for the official word.

Jason Zajac
VP Social Media

While the pair (pictured here, Schneider on the left and Bradford on the right) would not give specifics about how Bradford was hired, they both noted that they had gotten to know each other over the past year.

And Bradford added that she had met Yahoo (YHOO) President Sue Decker at a poker table several years ago while attending a women’s executive conference run by Fortune magazine.

“I won,” said Bradford proudly. “I beat her and everyone else [at the table].”

How much does BoomTown like a person who insults her uber-boss’s card-playing skills before she even starts?

Very much!

Actually, sharp gambling skills and a little in-your-face style are probably just what Yahoo needs, as the U.S. economy continues to tank and the company tries to recover from the Microsoft (MSFT) takeover debacle.

Combined with management drift and employee turmoil over the last year, Yahoo’s ad business has suffered accordingly.

“I had a laser-like focus on bringing in Joanne,” said Schneider, who said she always asks ad clients who most impacts their online strategy and Bradford’s name kept popping up. “There was a kinetic energy that made it a good fit.”

Bradford is taking over the job of Dave Karnstedt, who is headed to Silicon Valley VC firm Redpoint Ventures as an executive-in-residence. His departure has been long rumored internally.

According to sources, Bradford was unhappy at Spot Runner, the ad-services start-up that has received truckloads of funding, and even more attention when Bradford arrived.

Whatever the case, the former Microsoft exec left her job as national ad sales chief at Spot Runner, where she arrived just six months ago, to take the position of SVP of U.S. revenue and development at Yahoo.

Bradford will oversee sales, market development for advertisers, small business and HotJobs at Yahoo. She will report to Schneider, who is EVP of Yahoo’s U.S unit.

It will be a very tough gig. Yahoo is facing that soft U.S. economy, a weakened stock price after the takeover attempt by Microsoft and justifiable questions among advertisers about its effectiveness, as other sites like Facebook grow faster and with more attractive demographics.

Yahoo is likely to also have to deal with new regulatory scrutiny of its ad businesses, since it was reported yesterday that the Justice Department might block the deal Yahoo recently struck to outsource some of its ad sales to Google (GOOG).

Bradford insisted that Yahoo was still a major force, underscoring that for all its troubles, the company remains one of the top online ad sellers: “My approach has always been about giving advertisers the product they want. … Yahoo has a lot of assets for me to play with.”

Schneider added that the job Bradford has is larger than Karnstedt’s, in order to be able to offer ad clients as many different kinds of Yahoo ad product as possible in an integrated solution.

“It is a different role in that it aggregates all of ad revenue … and touches teams in all of our ad businesses,” said Schneider, who noted Bradford’s job does not include its overseeing its publishing relationships, including a controversial recent deal with Google. “It’s the whole magillah.”

And Bradford knows from gorillas. Previous to Spot Runner, she was a VP and chief media officer of MSN Media Network and has worked at the software giant for a long time.

At Yahoo, where she will start in two weeks, she will not be the only former Microsoft exec–content head Scott Moore, who also reports to Schneider, was a longtime exec there.

It’s a sneaky kind of Microsoft invasion, if you think about it.

Bradford, who left Microsoft right after it made the now-failed bid for Yahoo, said she looks forward to wrangling with her former company in the ad market, especially now that Yahoo has to carve out new roads following its decision to resist.

“Everyone needs good competition, and it will be fun to compete [with Microsoft],” said Bradford. “I think Yahoo is at an interesting point of changing and growing its businesses … but it is still in a leadership position and there is a story to be told around that.”

The departure of Dave Karnstedt, who took over last year when longtime Yahoo ad sales exec Wenda Millard left Yahoo in the first of many controversial partings, has been long rumored internally.

(In fact, I have driven one of Yahoo’s PR people crazy in recent months trying to verify a persistent tip I had been getting that he was headed out the door.)

Karnstedt will be joining Redpoint Ventures, a Silicon Valley venture firm, as an executive-in-residence.

And, in a rejiggering and addition of duties at Yahoo (YHOO), Karnstedt’s job and more is going to Joanne Bradford (pictured here), a longtime and well-known Microsoft (MSFT) exec who decamped from the software giant to helm national ad sales at trendy ad services start-up Spot Runner just six months ago.

There have been rumors swirling that Bradford was unhappy at the smaller company after working at the giant Microsoft.

She was EVP of National Marketing Services, focused on national advertisers, for Spot Runner, joining in a high-profile move in March. Previous to Spot Runner, Bradford was a VP and chief media officer of MSN Media Network, and had worked at BusinessWeek before that.

In any case, the move will be seen as a blow to Spot Runner, which recently did some unusual layoffs, despite receiving a large slug of cash from investors.

(Here is a post and video I did on a recent trip to Spot Runner, including an interview with its CEO Nick Grouf.)

“I am going back to my entrepreneurial, build-something roots,” Bradford told me at the time she joined Spot Runner. “There is such inefficiency in buying and selling of advertising and someone has to solve that, both for big companies and small ones.”

Well, welcome to Yahoo, Joanne, which could use a little efficiency in its buying and selling of ad sales!

Seriously, Bradford will now will take over as SVP of U.S. revenue and market development at Yahoo at a very dicey time.

Besides facing a withering U.S. economy, a weakened stock price after the takeover attempt by Microsoft and ensuing mess related to it, it was revealed that the Justice Department might block the deal Yahoo recently struck to outsource some of its ad sales to Google (GOOG).

Yahoo said that in this newly created role Bradford will oversee sales, market development for advertisers, small business and HotJobs. She will report to Hilary Schneider, EVP of Yahoo’s U.S unit.

Karnstedt, whom I interviewed when he first took over ad sales a little more than a year ago, is leaving to pursue other opportunities.

In Silicon Valley, that means the inevitable stop at a VC firm. Hence, Redpoint!

Interestingly, he joins former Ask.com head Jim Lanzone at Redpoint, while former Yahoo execs Jeff Weiner (Accel Partners and Benchmark Capital) and David Goldberg (Benchmark) also landed cushy EIR gigs after leaving Yahoo.

Karnstedt had been SVP of U.S. sales at Yahoo and had apparently resigned from the company earlier this summer (thanks for not confirming that when I asked so many times, Yahoo!)

With Yahoo seven years, he was charged with the difficult task of integrating Yahoo’s search, display, Blue Lithium and Right Media sales teams.

And while Karnstedt was well liked, many complained that the longtime online ad techie was not enough of a gregarious and schmoozy ad sales exec, with deep relationships on Madison Avenue, as Millard–and Bradford–surely are.

As I wrote in Aug. 2007, after an interview with him at Yahoo’s New York offices:

I made the point to Dave (he is the kind of guy you can call Dave, as you can see pictured here) that an ad guy needs to sell himself, but to no avail, so we press on in text. Nonetheless, let me set the visual scene:

Nicest guy you ever want to meet walks into nondescript room, wearing khaki-oxford-jacket Internet uniform 101. Declares Yahoo is going to kick some advertising butt in the nicest possible way. It is revealed this nice guy has been around the Web block for quite a while. Much chitter-chatter ensues. Cut to my clear-as-Fiji-water observation that nice guy, as nice as he is, has his work cut out for him.”

And now, more than ever in Yahoo’s key ad market, so does Bradford.