Yahoo! Shift Falls Flat

Yahoo! said its strategy will be "to create unique user experiences and consumer insights by leveraging its unmatched global user participation, connections and data."

The new Yahoo! will have four key objectives -- expanding "customer-centric culture and capabilities," creating top-notch social-media environments, taking the lead in next-generation advertising platforms and driving "organizational effectiveness and scale."

The audience group will be focused on creating more unique and tailored offerings for Yahoo!'s users, and the advertiser and publisher segment will aim to help advertisers better reach their target customers.

As for the technology group, Yahoo! plans to mandate closer engineering integration within product teams. Yahoo! also said it will concentrate its investment toward the development of "high-impact, scalable, global platforms and infrastructures to help capture the most significant long-term growth opportunities."

Shares dropped 43 cents early Wednesday to $27.