"My focus has shifted from being able to do all the stuff to freeing up the others to be able to learn and do it all and grow that way," he adds.
The transition from engineer to leadership hammered home the importance of communication and collaboration, Penfold says. "There's only so much you can do on your own," he says. "Other people come in with some great new ideas that may challenge your way of thinking. Being able to communicate and collaborate with them can take whatever you build or whatever idea you have to another, new level.
"I think the idea of working in isolation means you're never going to get the same sort of level of success or joy or fun, [compared to] collaborating. That's what we find here. We're always collaborating with each other, always talking, which really helps evolve what we're doing and improve not only the products that we build at Yahoo!7 but also ourselves as well."
"It's not one of those things you learn and you can tick that box; it's a constant evolution," he adds.
One of the biggest challenges Penfold faces in his current role is dealing with the flood of ideas that come from all sides; he has to be able to prioritise and find a place for them on the company's roadmap. "Innovation can come from any area of the business," he says. "That's what makes it both exciting and challenging. Which is why Hackday is so well received across all areas of the business."
At the moment Penfold's team has plans to continue its work on mobile development. Its social TV app for mobile devices, Fango, came out of the regular company-wide Hackday events that Yahoo!7 hosts, where people stop what they're working on and have a 24-hour period to spend on exploring new ideas. The event is followed by the chance to present to the whole company, and prizes are awarded for the most innovative prototypes.
Ideas from Hackday, such as Fango, can be incorporated into the company's roadmap if they show promise. Penfold says the focus is on "more around mobility than mobile": Yahoo!7's tech team wants to "be able to serve our content to users wherever they are, and whatever device they're on". "So one of the streams we're working on at the moment is making our entire network device aware and responsively designed [for] those devices," he says, "serving the content to our users in an optimised way regardless of what device they're on."
For Penfold's team, ensuring that the company's systems can keep up with changing patterns of media consumption is important. For example, when it comes to the National Broadband Network, which is likely to have a significant impact on how consumers access entertainment, "we need to be ready now," Penfold says. "We need to be planning for that, and we are at Yahoo!7," he adds.
"We've recently done a major infrastructure project around our video platform, where we did a video platform refresh. We've been rolling that out to our properties at the moment; so it's on sport and on news at the moment we'll be rolling that out to the rest of the network as we go."
The project started at the beginning of 2012. "It's been a large undertaking," he says. The aim is a 'best-of-breed' video player, "which is going to be really important for when the NBN does come out," he says. The team is building everything for scale. "Yahoo!7 reaches 8.8 million Australians every month, so anything we release has to work and has to work straight away at scale. That's obviously a big focus for us that's only going to continue as Yahoo!7 continues to grow. As broadband usage continues to grow, we obviously need to be ahead of the game there. We're definitely working towards scale, performance, availability."
Follow Rohan on Twitter: @rohan_p