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Updated from 8:54 a.m.
Yahoo! (YHOO Quote) failed to win over Wall Street with its latest strategic shift.
Hoping to reassert its relevance in the Internet space, the Sunnyvale, Calif., Internet giant handed a new job late Tuesday to Chief Financial Officer Susan Decker. Chief Operating Dan Rosensweig and media group chief Lloyd Braun will depart.
But investors, having endured a year full of operational and financial pratfalls at Yahoo!, weren't impressed. Yahoo! shares fell 1.6% in early action Wednesday. The reaction suggests that shareholders continue to lack confidence in CEO Terry Semel and Decker, now in position as his heir apparent. ...
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