After Yahoo’s CEO Jerry Yang blew it with Microsoft and before the most likely August’s proxy fight between the Icahn-Yang sides, more executives are leaving the company. Flickr’s founders Caterina Fake and Stewart Butterfield have joined the exodus of senior Yahoo managers.

Also missing in action are:

Usama Fayyad, Chief Data Officer
Jeff Winer, President of Yahoo’s Network division
Jeremy Zawodny, Software Developer/blogger and well known in SEO/SEM conferences

Meanwhile, Yahoo! is making the same dumbest and stupid mistake many businesses from the 90’s did: slave your revenue model to the revenue model of others (Google, in this case).

Google effectively controlling Yahoo! revenue stream channels and getting away with it. Great.

Schofield reports that TechCrunch is compiling a Then-Now table of formers Yahoo! executives.

Update: TechCrunch reports rumors that three more executives are leaving Yahoo! These are:

Vish Makhijani, the SVP and General Manager of Search
Brad Garlinghouse, head of Communications & Communities at Yahoo (Mail, Groups, Messenger, Flickr, and Zimbra)
Qi Lu, EVP engineering for Search and Advertising Technology Group and chief architect of Panama platform.

Wait! It is getting worse!

Today TechCrunch announced that Joshua Schacter, founder of Delicious, is also leaving Yahoo!.

And in a new twist, Information Week reports that Jason Zajac, general manager of social media at Yahoo is leaving.