Yahoo hires executive search firm to assist in hiring new board members

Washington, Jan 7 (ANI): Embattled Internet company Yahoo has reportedly hired an executive search firm to find new members for its board.

According to The Wall Street Journal, Yahoo hired search firm Heidrick and Struggles International Inc. to assist in the effort aimed at possibly replacing Chairman Roy Bostock and other directors who may step down.

Bostock, who is also vice chairman of the board at Delta Air Lines Inc., has been on the Yahoo board since 2003.

Directors, including Bostock and Yahoo co-founder Jerry Yang, have been criticized by some shareholders who have complained about Yahoo's handling of a strategic review and other issues, including its decision to rebuff a 2008 takeover.

Yahoo has said its strategic review is "designed to enhance shareholder value and promote growth and innovation at Yahoo."

Meanwhile, Yahoo recently named PayPal President Scott Thompson as its new chief executive officer, nearly four months after ousting former CEO Carol Bartz.

Bartz was fired over the phone last September by Bostock, having failed to grow the company significantly and was accused of causing a bitter rift with Alibaba, in which Yahoo holds a 40pc stake. (ANI)