Yahoo is expected to announce that Carol Bartz has accepted offer to become next CEO of the company, people familiar with the situation said, according to the Wall Street Journal.

Yahoo's announcement will mark the end of the 2-month search for the new Executive to replace current CEO and co-founder Jerry Yang.

Yang previously said he would step aside as soon as a new leader for the company was found, stating that he accepted the job of leading the company at a time when rethinking and restructuring was needed.

He said that a new leader will build upon the pillars we've put in place and who will take the reins on the critical decisions our company faces.