Yahoo board chairman Roy Bostock and three directors at the firm are to step down as the troubled internet firm continues its management shake-up.
The departures follow the exit of founder Jerry Yang last month and the appointment of former PayPal president Scott Thompson as its new chief executive, as part of ongoing efforts to stem the company's decline.
In a letter to shareholders Bostock said that by stepping down, alongside Vyomesh Joshi, Arthur Kern and Gary Wilson, the firm would be better placed to continue its re-organisation.
"The board has concluded that in order to accelerate the company's transformation, the combination of a new chief executive with an enhanced team of independent directors would provide Yahoo with the expertise and perspectives necessary to drive innovation and growth," he said.
He also announced that Maynard Webb, who once served as eBay's chief operating officer, and Alfred Amoroso, a seasoned technology executive who has held senior positions at IBM and Macrovision, have already been elected to the baord.
The firm is also searching for additional independent directors.
Yahoo's letter also revealed that it is in "active discussions" with both Yahoo Japan, which is co-owned by Softbank, and the Alibaba Group, in which Yahoo has a significant stakes, about a possible restructuring, most likely in an attempt to raise funds.
Yahoo has been in decline for several years as the firm has struggled to reinvent itself in the face of increasing online competition. Last year it sacked former chief executive Carol Bartz for failing to halt this slide.
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