Yahoo adds 2 new board members
NEW YORK (AP) — Yahoo, which is in the midst of figuring out what to do with its Internet business, said Thursday that it added two new members to its board of directors this week.
The new members are Catherine Friedman, a former managing director at investment bank Morgan Stanley, and Eric Brandt, the former chief financial officer at chipmaker Broadcom. They were added Tuesday, increasing the number of members on the Internet company's board to nine from seven.
Yahoo said last month that it hired three investment banks to evaluate potential bids for its websites and other properties. The Sunnyvale, California, company is also considering spinning off its Internet business into a new company and leaving behind a valuable stake in Chinese e-commerce company Alibaba.
Shares of Yahoo Inc. fell 53 cents, or 1.6 percent, to $32.98 in morning trading Thursday. Its shares are down about 23 percent in the past year.