Yahoo! Adds One, Chops Two from Board

Before you go, we thought you'd like these...
Before you go close icon

Cloud computingYahoo! Inc. (NASDAQ: YHOO) today announced the appointment of Max Levchin to its board of directors, effective immediately. Two other board members, David Kenny and Brad Smith, are leaving the board, also immediately. Yahoo's board will now have eleven members.

Levchi, a co-founder of PayPal that is now owned by eBay Inc. (NASDAQ: EBAY), brings his computer science training and background as an entrepreneur and angel investor to Yahoo at a time when the company is making a variety of changes that have boosted the share price to near $20. Yahoo's CEO said of Levchin:

I'm confident that his strong product and technology expertise will be a tremendous asset to Yahoo! as we work to transform the world's daily habits.

Like CEO Marissa Mayer, Levchin is a former employee of Google Inc. (NASDAQ: GOOG). Google acquired Levchin's Stride in 2010.

Yahoo added three directors to its board in March as it waged a proxy fight with activist investor Daniel Loeb.

Paul Ausick


Filed under: 24/7 Wall St. Wire, Corporate Governance, Internet, Shareholder Issues Tagged: EBAY, GOOG, YHOO
Read Full Story

Markets

S&P 500 2,341.59 -2.39 -0.10%
DJIA 20,550.98 -45.74 -0.22%
NASDAQ 5,840.37 11.64 0.20%
DAX 12,053.47 57.40 0.48%
NIKKEI 225 19,202.87 217.28 1.14%
HANG SENG 24,345.87 152.17 0.63%
USD (per EUR) 1.09 0.00 -0.01%
USD (per CHF) 0.98 0.00 -0.12%
JPY (per USD) 110.28 -0.49 -0.44%
GBP (per USD) 1.26 0.00 0.00%

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners