Yahoo Execs Meet To Discuss Major Shakeup

Update – 6:15 pm: Yahoo released an official statement about the reorganization at approximately 5:45 p.m. The news confirms the resignation of COO Dan Rosensweig and elaborates on the company’s new business focus. Get more details from our update.

Update – 5:11 pm: We are getting real-time updates from executives at the meeting. At least some of the rumors circulating aren’t accurate. No word yet on Semel’s fate or any layoffs. But here’s a stunner: COO Dan Rosensweig will be leaving the company at the end of March. Sue Decker will run finance and “monetization” (sales). More details to come…

Yahoo is holding an internal executive-level company-wide Webcast today at 4 p.m. PST. While we don’t know exactly what will be disclosed, we’ve heard rumors of mass layoffs and a significant management shakeup that probably involves CEO Terry Semel, COO Dan Rosensweig and CFO Susan Decker.

We’ve also heard that there has been a confidential document circulating within the executive ranks at Yahoo showing the new exec organizational chart.

While we have a good indication that this meeting is happening, what we don’t know is that the rumors of layoffs and CEO change are accurate and/or will be announced at the meeting. Our usual contacts at Yahoo were not responsive prior to the meeting. In fact, not a single person at Yahoo HQ is answering their cell phone when we call.