Immediately following the release of the so-called "Peanut Butter Manifesto" by a Yahoo senior executive several weeks ago, the technology industry was abuzz with questions and predictions about where the company would go.  The wait is over.

Last night Yahoo issued a press release detailing a broad "re-alignment" of the company's operating structure.  According to the press release, Yahoo will restructure its operations to focus on three specific areas:  audience, advertisers & publishers, and technology.  Each of the three groups will be headed by an executive that will report directly to Yahoo chairman and CEO Terry Semel.

Writing for Bruceclay.com, Susan Esparza talks about who will be heading the new divisions and who will be heading for the door as part of the restructuring.  She also has a great roundup of additional stories, commentary, and "chatter" about what the Yahoo announcement means for the future of the search company.  John Battelle posted a Reuters report indicating Yahoo CFO Susan Decker will not only lead the new advertising and publishing group, but is also being eyed as a possible successor for Semel.  Additionally, Matt Cutts of Google weighed in with his take and a question for the community:

What do you think? Will this distract Yahoo for a while? Will it make them a more focused competitor? Both?

Well… what do you think?  Is this kind of refocusing and organizational change what Yahoo needs in order to make itself a better competitor?  The news is pretty new so we'll have to keep an eye on this one to see how it works out.  Like any changes made in a large corporation, it will take time to get the company re-aligned under these new groups and leaders.

In the meantime, share your thoughts on the news and let me know what you think the future now holds for Yahoo.