Yahoo is still weeks from replacing CEO

A replacement for Yang probably won’t be announced until January, or even later, said the person, who declined to be identified because the discussions are private. The Wall Street Journal reported that former Vodafone Group PLC CEO Arun Sarin is among the people being considered.

Yahoo is looking for a CEO who can decide on the Internet company’s next move after it rejected Microsoft Corp.’s bid of as much as US$47.5 billion this year. Yahoo has talked to Time Warner Inc. about buying that company’s AOL business, and Yang has said he’s open to a new takeover offer from Microsoft.

Yahoo, based in Sunnyvale, California, dropped 1 cent to US$12.19 at 4:00 p.m. New York time in Nasdaq Stock Market trading. The shares have declined 48 percent this year. Yahoo spokeswoman Kim Rubey declined to comment. Sarin couldn’t be reached for comment.

An informal group of Yahoo board members is leading the search and is considering other executives before discussing selections with the rest of the board, the Journal reported. The directors have authorized checking references on a few candidates, the newspaper said.

Sarin announced his departure from Vodafone, the world’s largest mobile-phone company, in May. An Indian-born U.S. citizen, he became CEO in 2003 and helped the company expand in emerging markets through acquisitions in Turkey and India.

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