The wave of Yahoo executives leaving the company seems to continue. After last week, when both Usama Fayyad, the chief data officer, and the well known developer Jeremy Zawodny have announced that they will leave the company, this week it was Flickr’s co-founders turn.

Both Caterina Fake and Stewart Butterfield, which are husband and wife, have announced they will leave Yahoo. While Caterina Fake left her position starting June 13, Stewart Butterfield will stop running Flickr on July 12.

The couple started the photo sharing site as part of a gaming project in 2004. It was soon that Flickr became a success, with more and more users uploading and sharing pictures with the help of it. This drew the attention of internet giant Yahoo, which acquired the site in March 2005 for $35 million.

Last year Yahoo even withdrew his own Yahoo Photo service from the market, depending only on Flickr to provide this sort of services for it.

Even though Fake’s and Butterfield’s departure is unlikely to affect Flickr, it most certainly says a lot about the crisis that Yahoo seems to go through. It all started after Yahoo declined an offer of acquisition of more than $44 billion that was presented to the company by Microsoft. Things started to go from bad to worst when several major investors, among them Mr. Carl Icahn, began putting pressure on the company’s executives to start the negotiations again.

Stewart Butterfield will be replaced by Kakul Srivastava, Flickr’s actual director of product management.