Yahoo exec joins two venture firms

Jeff Weiner, executive vice president of Yahoo's network division

(Credit: Stephen Shankland/CNET News.com)

Jeff Weiner, a top Yahoo executive who announced his departure from the company last week, is indeed joining two venture capital firms.

Accel Partnerse and Greylock Partners both announced Monday that Weiner is joining as "executive in residence."

"Weiner will advise the leadership teams of existing Accel and Greylock consumer technology portfolio companies, and will also work closely with the firm's partners to evaluate new investment opportunities," the firms said.

Weiner was executive vice president of Yahoo's network division, overseeing many of the Internet company's most important products.

According to a memo from Yahoo President Susan Decker, reported on TechCrunch, "On an interim basis, Jeff's team will report to me as we consider how to best move the organization forward."