Yahoo Names Two CEOs to Board to Please Icahn

Yahoo announced that it will add the former Viacom and Nextel Partners CEOs to its board of directors, the Associated Press reports. These two fellows were recommendations from billionaire investor Carl Icahn; the move was widely expected as part of the company’s deal to ward off a proxy fight with Icahn.

Neither of the two new board members have experience leading an Internet company, but both have plenty of tech industry experience otherwise. “[Frank Biondi Jr]‘s extensive experience in the entertainment and media industries, combined with [John Chapple]‘s deep management experience in telecommunications, will provide valuable perspectives to our already diverse board,” Yahoo Chairman Roy Bostock said in a statement.

There’s also a risk that there are too many cooks in the kitchen, the article said. “The fate of Yahoo is not going to change by any addition of these board members,” said Global Equities Research analyst Trip Chowdry in the article. “This is a blessing for the competition.”

Related Stories
Mediabistro Course

Content Marketing 101

Content Marketing 101Almost 60% of businesses use some form of content marketing. Starting December 8, get hands-on content marketing training in our online boot camp! Through an interactive series of webcasts, content and marketing experts will teach you how to create, distribute, and measure the success of your brand's content! Sign-up before November 10 to get $50 OFF with early bird pricing. Register now!