Yahoo adds two finance veterans to board of directors
Yahoo Inc. added two new members with financial backgrounds to its board of directions on Thursday, as it continues to work through a lengthy turnaround. The company announced that Catherine Friedman, former managing director of Morgan Stanley, and Eric Brandt, former chief financial officer of Broadcom Corp., would join the board. They replace Max Levchin and Charles Schwab, who resigned in December, and return the Yahoo board to nine members. In a statement, Yahoo CEO Marissa Mayer said they were chosen to help advance the company's strategic goals and turnaround. Shares of Yahoo edged 0.4% higher to $33.63 in premarket trade. They are down 3.2% over the last three months, in-line with a 3% decrease for the S&P 500. However, they are down 21% from 12 months ago, underperforming the index's 3% decline over that period.
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