Yahoo's latest: rearranging the deck chairs

Yahoo just announced an internal reorganization of its deck chairs, the latest brilliant move to try to convince shareholders that they actually know what they're doing.  No one's likely to be fooled.

The company is creating three teams that report to President Susan Decker. The moves centralize consumer product development, create an insights strategy team and improve coordination between product and engineering teams, Yahoo said today in a statement.

At least nine officials may have decided to leave in recent weeks, jeopardizing Yang's plan to revive earnings and stem losses to larger rival Google Inc. Yang is also facing a challenge to his leadership from billionaire investor Carl Icahn, who has accused him of botching negotiations with Microsoft.

``These moves accelerate the ability of our deep and talented team to build great products, grow our audiences and improve monetization globally,'' Yang said in the statement.

The exodus of Yahoo executives includes Jeff Weiner, who is leaving as head of the network unit, and Qi Lu, senior vice president of search and advertising technology. The leaders of some popular products, such as photo-sharing site Flickr, are also departing.

Yahoo Reorganizes Product Groups as Executives Flee - Bloomberg