TEMPO.CO, Jakarta - Search engine company Yahoo Inc. has agreed to add four independent directors to its board on Wednesday, Apr 27. Yahoo said Starboard CEO Jeffry Smith and three other directors will join the board immediately.
This constructive resolution will allow the management and board to stay focus on the company’s important goal, said Yahoo CEO Marissa Mayer. Besides Jeffry, the three new directors said to join Yahoo’s board are Tor Braham, Eddy Hartenstein, and Richard Hill.
Yahoo said its two previous directors will resign during the annual routine meeting, but their names were not revealed. Due to the addition of two new directors, Yahoo’s new board of directors will consist of eleven people. But the decision will be set in annual meeting. Until now, the meeting has yet been confirmed. Usually, the meeting is held at the end of June.
Reuters reported on April 19 that Verizon Communications Inc advanced to the second stage deal to own Yahoo’s core asset. Verizon has signaled its interest in participating in the bid although it must compete with other companies.
The auction has not been participated by several companies that have a stake in Yahoo including Softbank Group Corp, owner of 43 percent of Yahoo Japan Corp share, and China Alibaba Group Holding Ltd, owner of 15.5 percent of Yahoo share.
REUTERS | REZKI ALVIONITASARI
