The Yahoo board's three-person search panel, led by Patti Hart, one of Yahoo's independent directors, decided to recommend Mr. Thompson after "they talked to a lot of people, " this person said.

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Yahoo was one of the pioneers in internet search and email and continues to remain one of the biggest names in the industry.

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There will be a few large players in the mobile search space, and Yahoo should be one of them.

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Enterprise search is one area where Google hasn't seen much competition from fellow Internet search titans Yahoo!

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One of the largest providers of internet content and search services, Yahoo could end up being acquired by the likes of Microsoft (MSFT) or any of the cash-laden private equity managers, says Miller.

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Why did Microsoft agree to a one-year extension of the revenue guarantees it provides Yahoo under their ill-fated search agreement?

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