The changes could be announced inside Yahoo this week, part of a series of recommendations by consulting company McKinsey & Co, Re/code said, citing sources close to the situation.
Yahoo was not immediately available to comment.
Yahoo's board members have to yet decide whether to sell Yahoo's core business, which includes Mail, its sports sites, and advertising technology.
The company is in the process of deciding whether to continue with the spinoff of its $30 billion stake in Chinese e-commerce company Alibaba Group Holdings Ltd.