The business has now been streamlined into three divisions: advertiser and publishing; consumer; and technology.
The advertiser and publishing division will be headed by chief financial officer Sue Decker, but no-one has been appointed to the consumer role as yet.
Chief operating officer Dan Rosenweig will leave the digital media firm next year, while Lloyd Braun, head of content for Yahoo Media Group, has resigned.
Profits fell 38 per cent drop last year to $155m (£78.6m).
Chairman Terry Semel said: "We are moving aggressively to deliver the most possible value."
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