Yahoo nominates three new directors as Mayer’s pay drops 32%

Yahoo proposed three new directors to shore up its dwindling board, as chief executive officer Marissa Mayer continues to revamp the Web portal.

17th April, 2014
Yahoo shares rose 6.3 per cent to $36.35 at yesterday’s close in New York

Yahoo proposed three new directors to shore up its dwindling board, as chief executive officer Marissa Mayer continues to revamp the Web portal.

Yahoo said in a statement yesterday it will nominate co-founder David Filo, Charles Schwab Corp. Chairman Charles Schwab and former Wal-Mart CEO Lee Scott to its board.

Adding the three, who will be voted on at the annual meeting on June 25, would bring the number of directors to eight.

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