Yahoo Inc. has begun its search for a new chief executive officer. The company board of directors has reportedly begun talks with executive-search firms as it continues to look for a new CEO, while entertaining buyout offers for the company.

The Wall Street Journal reported Friday that the board is putting a higher priority on evaluating a potential sale of all or parts of the Internet Company, over its search for a new chief executive, people familiar with the matter have said.

However, Yahoo directors are expected to hear pitches from several executive-search firms interested in the assignment.

Carol Bartz, Yahoo’s former CEO was fired earlier this month as a result of flat revenue growth and the fierce rivalry with competitors Google Inc. and Facebook Inc.

Yahoo’s board is looking to hiring a leader “who is open-minded to a broad range of options,” including a sale of the company, a person familiar with the matter reported to WSJ. The board is also interested in potentially finding a new CEO with “consumer experience” who could help Yahoo launch new services and stay relevant in the age of Facebook and Google, the person said.

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