In line with recent transformation at the top level, Yahoo is looking out for some new faces to work under recently appointed chief executive Scott Thompson, according to a person familiar with the happenings.
Yahoo has been going through a rough patch ever since competitors like Google and Facebook had upstaged it. It has been pushing hard to hold on to its revenue figures and image as a web pioneer, as had been the case in the 1990s.
Thompson, who has moved from PayPal to Yahoo, will receive an annual equity grant and "make-whole" bonus and $6.5m in restricted stock units, to make up for his dues at PayPal – apart from the fixed package of $27 million as reported by Reuters.
Thompson had declined to comment on Wednesday if there were any changes he planned at the top, saying he would talk about that sometime in the future, though reports to the contrary are doing rounds.
According to a report of Wall Street Journal, Yahoo director Patti Hart is heading the search efforts while the company has retained the services of recruiting firm Heidrick & Struggles.
Yahoo’s board and co-founders have come under heavy criticism for the company’s declining revenues.
