Three New Directors Appointed to Yahoo! Board
Digital media company Yahoo! Inc. (NASDAQ: YHOO) announced Sunday that its Board appointed three new independent directors, effective April 5, 2012.
They are John D. Hayes, Executive Vice President and Chief Marketing Officer of American Express Company; Peter Liguori, former Chief Operating Officer of Discovery Communications, Inc. and former Chairman and President of Entertainment of Fox Broadcasting Network; and Thomas J. McInerney, the outgoing Chief Financial Officer of IAC/InterActiveCorp.
“Yahoo! is moving aggressively to increase shareholder value. We have appointed a capable and dynamic CEO who is driving the business towards its next era of success. And we have reconstituted the Board of Directors with the right mix of experience and expertise to help Yahoo! build upon its very strong assets and brand base to take advantage of the opportunities ahead,” said Roy Bostock, chairman of the Board.
Meanwhile, Yahoo! is emerging as a strong content player in the digital convergence marketplace. Of late, it has embarked upon a couple of cutting-edge projects to woo the web-based entertainment consumers.
For example, Anthony E. Zuiker, the creator of the CSI franchise and his production company Dare to Pass, and Yahoo! have announced that casting and production will officially begin on the “Cybergeddon” project, a motion picture event which will bring to life the growing threat of cybercrime. (Read: Will Cybergeddon Change the Film Distribution Model?)
And “Remake America,” an original Yahoo! series in collaboration with independent production company Trium, aims to spark a national conversation among Yahoo!’s audience around the issues American families face every day. (Read: How to Remake America with Yahoo! News)
Earlier this year, independent directors Alfred Amoroso and Maynard Webb were appointed to the Board. With today’s appointments, the Board has added a total of five new independent directors this year.
It is expected that the majority of directors will be new to the Board in 2012 following this year’s Annual Meeting of Stockholders, and that the entire Board will be new since January 2010.
As previously announced, four directors volunteered not to stand for re-election at the next annual meeting, and an additional director resigned from the Board earlier this year, said Yahoo! in a statement.
Photo courtesy: Yahoo!