Yahoo shuffles executives to retrieve rapid growth

Yahoo Inc., one of the most trafficked Internet destinations worldwide, on Tuesday announced a reorganization of its structure and management in order to retrieve its competitive edge, bring back rapid growth and rebuild investors' deteriorating confidence in the leading global Internet brand.

As part of the Yahoo’s major management shuffling, its chief financial officer will get a new job title, while another two top executives will leave the company, Yahoo spokeswoman Joanna Stevens said.

In a press release late on Tuesday, Yahoo said that Chief Financial Officer Sue Decker will take over a reorganized advertising business unit, however will retain her current position until the company hires another executive for that post.

On the other hand, company’s Chief Operating Officer Dan Rosensweig will leave Yahoo in March, while Lloyd Braun, a former ABC executive who has headed Yahoo Media for the past two years, has already stepped down Tuesday.

“We’re putting the right people in the right places to execute our focused growth strategy,” Yahoo chairman and chief executive officer, Terry Semel said in a statement.

Speculations about a shakeup in the company’s top management was in the air throughout Silicon Valley this fall. In November, a memo composed by Senior Vice President Brad Garlinghouse was circulated saying that “heads will roll” and indicated job cuts of 20 percent of Yahoo's 10,000 employees.

As per the restructuring strategy, Yahoo will align its operations with its major customer segments i.e. audiences, advertisers and publishers. The company will have two customer-focused groups, called “Audience Group” and “Advertiser & Publisher Group”, each headed by a senior and most efficient operating executive, and a strengthened technology function group, called “Technology Group”, which will be headed by the chief technology officer.

All three executive heads will report directly to Yahoo CEO, Terry Semel.

“We’re moving aggressively to deliver the most possible value to our key customers, audiences, advertisers and publishers, and seize the major new opportunities we see ahead for the Internet,” said Terry Semel.

Audience group will concentrate on drawing in the largest and most valuable audiences and leverage relationships on and off the Yahoo network, building unmatched, custom-made and engaging experiences for Yahoo’s valuable users.

Advertiser & Publisher Group will focus mainly on alteration that can be opted to connect advertisers with their target customers across the Internet, more efficiently. The group is aimed at driving more value for advertisers and publishers than rival companies. Susan Decker is promoted by the company to head this group.

Headed by Chief Technology Officer, Farzad Nazem Yahoo’s industry-leading technology group will continue to support the entire organization. In order to chase the most significant long-term growth opportunities, the company will shift investment towards the development of high-impact, scalable, global platforms and infrastructures.

“The Internet is continuing to grow and evolve at a rapid pace, and we’re reshaping Yahoo! to be a leader in this transformation, just as we did successfully five years ago,” said Semel.