Yahoo board not focused on finding new CEO

Bartz stepped in as CEO in January 2009 and implemented a major corporate restructuring to make the company more agile, a big research upgrade for its advertising and publishing systems, and a streamlining of the company's products and services.

However, Bartz came in accordance with fire this year for a series of missteps. Early in the year, Bartz acknowledged that the 10-year, wide-ranging search research and advertising partnership she brokered in 2009 with Microsoft wasn't yielding the expected revenue stream, a problem that persists.

Bartz as well was criticized for an unexpected and significant slowdown in Yahoo's display ad business which started in the second quarter and was expected to continue through the third quarter.