There Can Be Only Two (Maybe Three)!

Oh, Scott! Oh, Tapan! Want an extra office? Perhaps a giant sword?

Of the four powerful direct reports to former Yahoo Network division head Jeff Weiner–Front Door and Network Services’ Tapan Bhat, Brad Garlinghouse, who heads Yahoo’s communications and communities arenas, Media Group head Scott Moore and Yahoo Search’s Vish Makhijani–it seems only two are sticking around for now in the current state of extreme flux at Yahoo (YHOO).

That would be Moore and Bhat, who are being quiet–too quiet–as the new reorg, which we reported on in detail here, chugs into place next week.

It feels like an endless loop of “The Highlander” movie over at Yahoo these days!

The group seemingly collapsed after Weiner’s departure last week in a heap of increasingly messy goodbyes.

Makhijani is out, although it is not entirely clear that Garlinghouse is as yet.

Several sources now tell me he is considering staying around through the summer, rather than leaving in a week.

That is, unless a great opportunity opens up for the man who penned the infamous “Peanut Butter Manifesto,” which started Yahoo off on this journey of painful self-discovery.

Thanks, Brad!

Which leaves us with the fate of Bhat and Moore.

As I wrote, current plans are to fold the highly likable Bhat (pictured here) and his group into a new one called Global Products, which will be run by Ash Patel, currently EVP of Yahoo’s Platforms and Infrastructure division.

Bhat’s properties, like MyYahoo, are considered “global” and will be managed out of Yahoo HQ in Sunnyvale, Calif.

But will he stay?

While Bhat is reportedly unsure about the new structure and is considering his options, most expect him to do so, as there could be considerable upside for him even with Yahoo’s current turmoil.

So too for Moore (pictured here), who runs the Yahoo Media Group, which will be moved under Hilary Schneider, who is currently the Global Partner Solutions EVP.

The new org will bring together Yahoo’s vast content properties, like Yahoo Finance, with ad sales and align them more closely.

Several sources said Moore, a former Microsoft (MSFT) exec, is satisfied about the new arrangement and the prospect of reporting to Schneider.

And if Microsoft does return and try another takeover, he would also likely be set.

But other sources said he also has been scouting out a new start-up venture that could include some significant investors.

Indeed, execs like Moore and Bhat have a truckload of options, in any case.

Why? Because Yahoo’s President Sue Decker, who is helming the reorg, cannot afford to lose more top execs, placing the pair in the catbird seat.

And, with a lot of Web 2.0 companies in need of some experienced execs, familiar with big Internet companies, the sky might be the limit there too.