Yahoo Continues to Clean House at Highest Company Levels

Yahoo Inc. (NASDAQ:YHOO) is looking for new board candidates to fill the spots of directors who may step down, including Chairman Roy Bostock, said people who are informed about the subject.

The company has enlisted the help of executive search firm Heidrick & Struggles International Inc. (NASDAQ:HSII), the people said. Bostock, who also serves as vice chairman of the board at Delta Air Lines Inc., has been on the board at Yahoo since 2003. He was unavailable for comment.

The house cleaning at Yahoo continues after last week’s surprise CEO announcement regarding Scott Thompson of PayPal (NASDAQ:EBAY). The news came on Wednesday and it was welcomed by mixed reviews. The stock price reflects some disappointment. Wall Street firm Gabelli offered insights into the skepticism: “Scott, to a large degree, is more of a technologist, not more of a media or turnaround expert, which is what we thought Yahoo needed at this point.”

Here’s how Yahoo shares are doing now:

Yahoo! Inc. (NASDAQ:YHOO): YHOO shares recently traded at $15.52,. They have traded in a 52-week range of $11.09 to $18.84. Volume today was 6,418 shares versus a 3-month average volume of 23,902,400 shares. The company’s trailing P/E is 18.99, while trailing earnings are $0.82 per share.

To contact the reporter on this story: Gina Smith at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com