Yahoo Shake up Revealed

Thursday, Feb 26, 2009  |  Updated 10:30 AM PDT
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Yahoo Shake up Revealed

Yahoo CEO Carol Bartz shook things up Thursday.

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The Yahoo rumors have been swirling around Silicon Valley for days. Now we have the real facts.

Yahoo's chief financial officer is leaving the troubled Internet pioneeras part of a management shake-up engineered by the company's new CEO.
 
Blake Jorgensen, who had been Yahoo Inc.'s CFO since June 2007, will relinquish his duties as soon as his replacement is found.

His departure is disclosed in a regulatory filing Thursday.

It comes as Sunnyvale-based Yahoo CEO Carol Bartz reshuffles the company's management team to quicken decision making and execute on her turnaround strategy. 

Yahoo hired Bartz six weeks ago to replace co-founder Jerry Yang.

Jorgensen was a close ally with former Yahoo President Susan Decker, who resigned last month after she didn't get the CEO job.

CNBC Silicon Valley Bureau Chief Jim Goldman says Jorgensen's departure is just the first steps of Blatz's highly anticipated reorganization of the company. Goldman says he's been told the new management structure will be about "results," "speed," "accountability," and far more "operationally focused" than the company has been in recent years.

Goldman Blogged: "While Bartz is not announcing which executive will fill what new role at the company yet, I'm told the executives who were offered a chance to stay were told they would now have to figure out whether they want to be part of this new structure, this new company, even if it means a decidedly big reduction in responsibilities for some, and some completely different responsibilities for others. I'm told through a source at Yahoo that when Jorgensen was told this, he and Bartz "mutually decided" that it was time for him to leave the company."  

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