(Bloomberg) -- Nextdoor Holdings Inc., the neighborhood social networking company, is adding former Yahoo Chief Executive Officer Marissa Mayer to its board as part of a leadership overhaul that started in February when the company announced it was replacing its CEO. 

Mayer, a onetime Google executive who led Yahoo for a five-year stretch ending in 2017, now runs a consumer software startup called Sunshine Products and sits on the boards of Walmart Inc. and AT&T Inc. Nextdoor is also adding two other directors: Niraj Shah, co-founder and CEO of Wayfair Inc., and Robert Hohman, who co-founded Glassdoor Inc. and still serves as the company’s chairman. 

“Each of these executives has significant experience leading successful technology companies at scale,” Nextdoor co-founder and CEO Nirav Tolia said in a statement. “With proven product-centric operational expertise, we are thrilled that they have chosen to join Nextdoor’s board at this exciting time.” Nextdoor’s board now has 10 members. 

The moves come a few months after Nextdoor announced that it was replacing CEO Sarah Friar, reinstating Tolia to the top job that he’d previously held from 2010 until 2018. It’s been a tough stretch for the social network, which lets people create and join online communities with others in their neighborhood.

Since they began trading in 2021, Nextdoor shares have fallen nearly 80%. The money-losing company faces a competitive market for online advertising and has struggled to post consistent sales growth.

Investors will get the latest update on its financial state when Nextdoor releases first-quarter earnings on Tuesday.

©2024 Bloomberg L.P.