Yahoo fills board seats with two dealmakers
Yahoo announced Thursday it would fill the vacant seats on its board with two business leaders who have experience with acquisitions.
Catherine Friedman, former co-head of Morgan Stanley’s biotech practice and former head of West coast health care, and Eric Brandt, former chief financial officer of Irvine-based tech firm Broadcom Corp., joined Yahoo’s board on Tuesday.
“Today we are at an important juncture in Yahoo’s transformation, as we execute our refined strategy and explore strategic alternatives for the company,” Webb said in a press release.
Activist investor Starboard Value, a New York-based hedge fund, has threatened to wage a proxy battle, filing its own slate of candidates for Yahoo’s board.
In addition to pursuing a sale of its core business, Yahoo is also looking into spinning off its Internet properties along with its stake in Yahoo Japan.
CEO Marissa Mayer is also pursuing a refined turnaround strategy by focusing on fewer products and cutting staff.