Internet giant Yahoo! Inc., has hired Tim Morse, a former executive at General Electric and the finance chief at the chipmaker and semiconductor firm Altera, as their new chief financial officer.

According to Bloomberg news, the CEO of Yahoo, Carol Bartz, said that the company turned to Morse due to his ability to simplify complex organizations.

"Tim has a proven ability to translate strategy into structure, process and execution," Bartz said in a statement, adding that he "is a natural fit for Yahoo."

The Wall Street Journal describes the move as the latest sign that Bartz, who took over Yahoo only a few months ago, is focused on improving the company's internal operations even as she tries to raise its profile with internet users.

Yahoo has had a declining profit for the last three years, the kind of budget scenario that calls for an expert in understanding finance and accounting.

A career in finance can lead to huge responsibilities in major companies as they search for a new direction and a new approach to their business.

The Bureau of Labor Statistics predicts that there will be 1,746,000 executive jobs in the U.S. by 2016.