Proxy Fight Looms As Yahoo Appoints Three New Board Members

Well, it's been an eventful last few months for Yahoo, hasn't it? Remember it was just six months ago that Carol Bartz was fired from her position as CEO, and the Yahoo Board created a circle of elders to decide the company's fate. Then, early this year, Scott Thompson (formerly of PayPal) was appointed CEO, and Yahoo Co-founder Jerry Yang stepped down from the board in mid-January. Then, a month later, Yahoo officially announced its plans to go after Facebook, letting the la. Today, the activity continues, as Yahoo has announced that it is appointing three new independent board directors, whose roles become effective on April 5th. This is all in spite of the fact that Dan Loeb and Third Point have been trying to drum up shareholder support in favor of their own roster of board members -- they don't think Yahoo's current board has what it takes to pick the right people to turn the company around. Today's new appointees include: John D. Hayes, EVP & CMO of AmEx, Peter Liguori, former COO of Discovery Communications and Chairman and President of Entertainment at Fox Broadcasting, and Thomas McInerney, the outgoing CFO of IAC.

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