Yahoo Adds Two Directors, Girding for Fight With Starboard
By: Wall Street Journal
March 10, 2016
Yahoo Inc.’s appointment of two board members on Thursday signals the Internet company is girding to battle activist investors over its future.
Yahoo’s new directors are Catherine Friedman, a former managing director of Morgan Stanley, and Eric Brandt, former finance chief of semiconductor company Broadcom Corp. The additions bring the board back to nine members following two resignations in recent months.
The Sunnyvale, Calif., company on Thursday morning detailed the director additions shortly before Yahoo’s board met with Starboard Value LP, people familiar with the matter said. The activist hedge fund has called for a sale of the company and threatened to nominate a new slate of directors before the March 26 proxy deadline.
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