Yahoo! names new board members set to join April 5
Yahoo! Has announced the appointment of three independent board members as a struggling firm moves to shake up its team and fend off a challenge from an activist hedge fund.
Effective April 5, John Hayes, executive VP and American Express; Peter Liguori, former chief operating officer of Discovery Communications and Thomas McInerney, will join the board. “Each of these individuals impressed the search committee with their demonstrable record of significant accomplishment at the highest levels of media, advertising and marketing, finance, including corporate finance and restructuring, and further insight into customer's perspectives” said Patti Hart, chairman of the nominating committee.
Yahoo! named Scott Thomson its new chief executive in January and promised urgent action to turn the company around after a year of trading income and profits. Thomson, said the Web giant needed to move quickly to exploit its huge bank of user data to regain market share especially in display ads where it has lost ground.
