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Yahoo Nominates Three New Board Members, Including Yahoo Founder David Filo
|By Business Wire
|April 16, 2014 05:55 PM EDT
Yahoo! Inc. (NASDAQ:YHOO) today announced the nomination of three new
members to the company's board of directors. Shareholders will vote on
the nominees at the company's Annual Meeting on June 25, 2014. The
David Filo, co-founder, Yahoo! Inc. and Chief Yahoo
Charles R. Schwab, Chairman and a director of The Charles Schwab
H. Lee Scott, Jr., former President and Chief Executive Officer,
"The addition of David Filo, Charles Schwab and Lee Scott adds
significant depth and breadth of experience to the Yahoo board,” said
Marissa Mayer, CEO of Yahoo.
"As a co-founder and long time Chief Yahoo, Filo is the heart and soul
of the company and in re-joining the board, he adds 19 years of deep and
personal knowledge of Yahoo’s business and culture to the conversation,”
Mayer said. “Chuck brings a wealth of experience to the board, having
built a well-respected brand and having grown a successful business from
the ground up. Lee is a world-class business leader who understands the
importance of operational excellence and international scale, and he
will lend a unique perspective to the group. I am confident that with
today’s nominations, we bring the right mix of voices and experience to
the Yahoo board, positioning the company to deliver even more value to
our users, our advertisers and our shareholders moving forward.”
"We are thrilled to be able to nominate three experienced and passionate
leaders to our Board of Directors," said Maynard Webb, chairman of the
board at Yahoo. "As experienced directors, founders, and CEOs of Fortune
500 companies, David Filo, H. Lee Scott, Jr. and Charles Schwab each
bring immense expertise and fresh perspectives that I’m confident will
benefit the company and its owners. We are also very grateful for the
service and contributions made by John Hayes and Peter Liguori, and
thank them for their wisdom and guidance."
“I am incredibly proud to return to the Yahoo board,” said Mr.
Filo. “Jerry and I founded Yahoo as a product focused company that
creates compelling experiences through technology, and I’m excited that
today we are solidly back on that path. I am very familiar with Yahoo’s
history and with the technology underlying everything we do today and
more importantly, everything we want to do tomorrow. I look forward to
working alongside the other directors as we continue our mission to
build the best possible consumer experiences for our users.”
“I'm excited to be nominated to join the board of such a vital company,”
Mr. Schwab said. “Yahoo sits at the heart of the world's digital
revolution and nothing is more interesting and with greater potential
than engaging with a team of people devoted to improving our daily
“I am both honored and excited to be nominated for the Yahoo board,"
said Mr. Scott. "Yahoo is in the midst of one of the most extraordinary
transformations the Internet industry has seen, and I am impressed by
the company’s renewed commitment to building beautiful consumer products
for millions of people worldwide. I’m excited to bring the unique
learnings and experiences from my career to the Yahoo Board, and to help
propel the company on a path of steady growth.”
David Filo, a founder of Yahoo and Chief Yahoo, has served as an
officer of Yahoo since March 1995, and served as a director of Yahoo
from its founding through February 1996. Mr. Filo is involved in guiding
Yahoo’s vision, is involved in many key aspects of the business at a
strategic and operational level, and is a stalwart of the Company’s
employee culture and morale. Mr. Filo co-developed Yahoo in 1994 while
working towards his Ph.D. in electrical engineering at Stanford
University, and co-founded Yahoo in 1995. Mr. Filo was selected as a
director nominee due to his extensive technical and industry expertise
and his unique perspective on the Company’s strategic and technical
Charles R. Schwab has been Chairman and a director of The Charles
Schwab Corporation since its incorporation in 1986. He served as the
Chief Executive Officer of The Charles Schwab Corporation from 1986 to
1997 and from 2004 until 2008, and as its Co-Chief Executive Officer
from 1998 to 2003. Mr. Schwab was a founder of Charles Schwab & Co.,
Inc. in 1971, has been its Chairman since 1978, and served as its Chief
Executive Officer from 2004 until 2008. Mr. Schwab is Chairman of
Charles Schwab Bank and Chairman and trustee of The Charles Schwab
Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab
Annuity Portfolios, Laudus Trust and Laudus Institutional Trust, all
registered investment companies. Mr. Schwab was selected as a director
nominee due to his extensive public company board experience and his
financial markets experience.
H. Lee Scott, Jr. served as President and Chief Executive Officer
of Walmart from January 2000 to January 2009 and as an executive officer
and Chairman of the Executive Committee of Walmart’s board until January
2011. Prior to serving as President and Chief Executive Officer of
Walmart, he held various other positions with Walmart, including Vice
Chairman and Chief Operating Officer, as well as Executive Vice
President and President and Chief Executive Officer of Walmart U.S. Mr.
Scott served as a director of The Goldman Sachs Group, Inc. from May
2010 to May 2011. Mr. Scott was selected as a director nominee
due to his extensive senior leadership experience at a public company
and his board of directors experience at public and private companies.
Yahoo is focused on making the world’s daily habits inspiring and
entertaining. By creating highly personalized experiences for our users,
we keep people connected to what matters most to them, across devices
and around the world. In turn, we create value for advertisers by
connecting them with the audiences that build their businesses. Yahoo is
headquartered in Sunnyvale, California, and has offices located
throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East
and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net)
or the Company's blog (yahoo.tumblr.com).
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