Yahoo shuffles exec deck

Hilary Schneider and Ash Patel promoted

As the dust settles from Microsoft's failed attempt to acquire Yahoo, the famed Internet portal and search engine said Thursday that it is restructuring for the third time in less than two years.

Previous such moves have resulted in the departure of CEO Terry Semel and COO Dan Rosensweig. This time around, executives Hilary Schneider and Ash Patel are getting promotions that put them closer to Yahoo president Sue Decker, who might be in line for CEO someday.

While Decker and CEO Jerry Yang aren't going anywhere, many other top executives have quit Yahoo lately, upset about the company's languishing stock price, inability to attract a decent acquisition bid and recent decision to form a partnership with rival Google.

The restructuring includes the creation of an audience products division led by Patel, who helped create the popular Yahoo Finance section, and a U.S. regional division headed by Schneider. Patel and Schneider will report to Decker.

An insights strategy team also was created, though Yahoo hasn't yet named its leader.

Decker said the changes have been planned "deliberately over the past several months to clarify responsibilities."