Yahoo Paving Ways For Better Future

Yahoo Inc, the struggling Internet company, has recently got its new CEO Scott Thompson.Its now searching for new members for its board of directors. Board of directors had been under criticism for many months. They now seem to be reviewing their complete board and are looking for replacement of few of its board members.

Carol Bartz, the old CEO was fired from the top job at Yahoo four months ago, as Yahoo began a "strategic review" in which discussions have included the possibility of being sold, taken private or broken up.

A Yahoo spokeswoman declined to comment on the potential board changes. Asked about potential changes to the composition of Yahoo's board in an interview on Wednesday, Thompson said it was "premature" to make any announcements. "That's something I'll talk about with the board at a future date," he said.

According to a report in the Wall Street Journal, which first reported the news of Yahoo's plans for its board on Friday, the company has retained executive recruiting firm Heidrick & Struggles International Inc to help with the process. Yahoo director Patti Hart is leading the search, the report said, citing anonymous sources.

A Web pioneer in the early 1990s, Yahoo has struggled to maintain its relevance and advertising revenue in the face of competition from rivals Google Inc and Facebook.