Yahoo set to name new board members
By Anupreeta Das, Reuters,
Yahoo is expected to confirm the appointments of former Viacom chief executive Frank Biondi and former Nextel chief executive John Chapple to its board at the end of this week, sources close to the situation have stated.
Yahoo settled its proxy battle with investor Carl Icahn just days before its 1 August shareholder meeting, at which the activist investor had originally sought to replace the entire board with his nominees and oust Yahoo chief executive and co-founder Jerry Yang.
As part of a peace deal, Yahoo agreed to appoint Icahn to its nine-member board and add two new directors from Icahn's list of nominees, which included Biondi and Chapple, by mid-August.
Yahoo also considered Jonathan Miller, former chief executive of AOL, although he was not on Icahn's list. But Time Warner stepped in earlier this month to bar Miller from joining Yahoo, saying the conglomerate would enforce a non-compete pact with him.
Yahoo declined to comment.
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