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Yahoo! Adds One, Chops Two from Board

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By Paul Ausick Updated Published
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Yahoo! 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

Photo of Paul Ausick
About the Author Paul Ausick →

Paul Ausick has been writing for a673b.bigscoots-temp.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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