Yahoo! announced a broad executive shakeup Tuesday night, and it plans to reorganize the company into three segments -- audiences, advertisers and publishers.
The Internet company promoted chief financial officer Susan Decker to run its new Advertiser and Publishing Group. Yahoo! said the group will “lead the transformation of how advertisers connect with their target customers across the Internet.”
Yahoo! added that it is conducting a search for an executive to lead its new Audience Group, which will be charged with “building the largest and most valuable audiences and relationships on and off the Yahoo! network.”
Chief technology officer Farzad Nazem will lead the Technology Group, which Yahoo! said “will concentrate key engineering talent and shift investment toward the development of high-impact, scalable global platforms and infrastructures to help capture the most significant long-term growth opportunities.”
Three high-level executives are also leaving the company. Yahoo! said chief operating officer Dan Rosenweig will step down in March. And Yahoo! Media Group head Lloyd Braun and senior vice president John Marcom are also leaving the company, according to The Wall Street Journal.
“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,” Yahoo! chairman and CEO Terry Semel said in a prepared statement. “The Internet is continuing to grow and evolve at a rapid pace, and we’re reshaping Yahoo! to be a leader in this transformation.”