Following slowing revenue growth, a falling share price and scathing criticism from within its ranks, Yahoo! Inc. announced a restructuring yesterday that includes movement around and out for many top execs, the Wall Street Journal reports [requires free subscription].
Under the new structure, which takes effect January 1, Yahoo will have three operating groups: Audience, which includes existing products in areas such as search, media, communities and communications; Advertiser and Publisher Group; and a Technology Group led by Chief Technology Officer Farzad Nazem.
Chief Financial Officer Susan Decker will head the Audience group, giving her oversight of the company's main revenue-generating activities, including its online-advertising sales teams.
Decker will also continue as finance chief until the company finds a successor. According to the WSJ, there's speculation that Decker is being tested as a possible successor to Chief Executive Terry Semel upon his eventual retirement.
Among the execs slated for departure are Chief Operating Officer Dan Rosensweig, Yahoo Media Group head Lloyd Braun and International Operations Senior Vice President John Marcom.
Yahoo executive David Katz, who had been in charge of the company's sports and entertainment content since 2005, stepped down last week.
The company is searching for an executive to head its Audience group. Search Senior Vice President Jeff Weiner will have expanded responsibility for areas including search, social media, the Yahoo Media Group and communications, under the Audience head.
"With our new organization and a focused growth strategy that leverages our core strengths, we're well-positioned to extend our leadership in the years ahead," Semel told the company when announcing the restructuring.
This is the latest of media company restructurings of late. In October, NBC Universal announced the launch of "NBCU 2.0," a wide-ranging strategic company initiative to focus on the digital and global marketplace. Fox Cable announced last week that it is restructuring to better accommodate online ad buying and media integration, and Fox Interactive Media recently selected a new president.
AOL has had a number of new exec appointments and departures over the last few months, most notably the appointment of former NBC Universal TV COO Randy Falco as the new chairman and CEO replacing Jonathan F. Miller. Microsoft Corp. recently moved Joanne Bradford, the company's head of global ad-sales and marketing, to lead its MSN division. And Quincy Smith assumed the role of president of CBS Interactive shortly after Larry Kramer stepped down from his position as president of CBS Digital Media.