As BoomTown reported earlier today, well-regarded top Yahoo techie Qi Lu will be leaving, in a move to be announced today or tomorrow by the troubled Internet company.

One Yahoo insider, who characterized Lu as a “rock star” and highly regarded, said the departure was a “blow” that will be devastating to the engineering organization at Yahoo.

It also looks as though the departure of Search SVP Vish Makhijani will also be announced today or tomorrow, although the fate of Brad Garlinghouse, the SVP who heads communications and communities, is still undetermined but precarious.

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My special BoomTown Yahoo tip inbox is filling up fast this week from Yahoo employees–who, by the way, seem to like to use Gmail as their secret one–all buzzing about the next shoe to drop.

That clodhopper would be, of course, which major exec will leave the troubled Internet company, all due to a major reorg that is about the hit the company within the next weeks.

After the recent departure of Network division EVP Jeff Weiner and Chief Data Officer Usama Fayyad–along with the flashier exit of Flickr’s Co-Founders Stewart Butterfield and Caterina Fake–several sources tell BoomTown that Search and Advertising Technology group EVP Qi Lu is the next on his way out too.

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Jeff Weiner, as BoomTown reported in a story broken by BoomTown Tuesday and also yesterday, will be leaving Yahoo to become an entrepreneur in residence at both Accel Partners and Greylock Partners.

But, despite a lot of speculation, sources at the company said that Weiner will not likely be replaced as Network division head by one of his four direct reports.

Instead, sources at the company think much of Weiner’s organization could be headed by Hilary Schneider, who is EVP Global Partner Solutions, in order to better align Yahoo’s ad revenue-producing units with its products, software, search and services side.

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Yahoo’s board has been meeting today and, doubtlessly, its directors had a lot to talk about (more on that later!).

Of course, there’s the obvious topic of having to figure out how best to deal with the noisy stylings of billionaire investor Carl Icahn, who is waging a proxy war on Yahoo and calling for new management at the top.

But perhaps what the board should be focused on is the old management at Yahoo, especially in the levels just below the top, who have been operating the company under a lot of stress for far too long.

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Recently, BoomTown, along with a passel of press, was invited to an outreach dinner, set to be held on June 9 at a San Francisco venue, with some top Yahoo execs.

This was somewhat of a big deal, given the typically cave-dwelling mentality of the company in recent days, due to the drama of the Microsoft takeover bid that has jacked Yahoo’s typically skittish approach to press relations up to dangerously shy levels.

Then the dinner was canceled last week suddenly, with organizers blaming scheduling issues.

That move set tongues wagging at Yahoo’s Sunnyvale HQ, of course, and sources inside the company began to pepper BoomTown with two key theories.

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This weekend, as first reported by the most excellent Staci Kramer at paidContent, Yahoo did yet another Yet Another Hierarchical Officious (re-)Organization (YAHOO!).
Memo to CEO Jerry Yang, who is apparently still so annoyed with BoomTown’s spiky posts on Yahoo’s troubles–we have sources too, you know–that lunch together seems a distant dream: We like it!
Of course, [...]

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