Bloomberg News

Yahoo Director Peter Liguori to Retire From Company Board (1)

April 11, 2014

Yahoo! Inc. (YHOO:US) director Peter Liguori, the chief executive officer of Tribune Co. (TRBAA:US), won’t seek re-election at the Internet company’s shareholder meeting in June, the second board member to signal an exit in as many months.

John Hayes, who joined about the same time as Liguori amid a board shakeup in 2012, said on March 27 that he was stepping down. Liguori informed Yahoo’s board on April 8 that he wouldn’t seek re-election, the company said today in a statement. After the departure of both directors, the board would drop to five members.

Liguori joined Yahoo about two years ago during a clash between the company and investor Dan Loeb’s Third Point LLC. Loeb, who was instrumental in bringing Marissa Mayer to Yahoo as chief executive, became a director in May 2012 in a shakeup tied to the ouster of former CEO Scott Thompson.

The exit means Yahoo loses a board member with extensive media experience. Before joining Tribune, his roles included chief operating officer of Discovery Communications Inc., consultant to Comcast Corp. and chairman of entertainment at Fox Broadcasting Co., according to a filing last year.

“Liguori was selected as a director nominee due to his extensive senior leadership experience in global media and entertainment companies and his longtime expertise in consumer marketing, media and programming,” the filing said.

To contact the reporter on this story: Brian Womack in San Francisco at bwomack1@bloomberg.net

To contact the editors responsible for this story: Pui-Wing Tam at ptam13@bloomberg.net Reed Stevenson, Stephen West


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Companies Mentioned

  • YHOO
    (Yahoo! Inc)
    • $45.43 USD
    • -0.44
    • -0.97%
  • TRBAA
    (Tribune Media Co)
    • $66.25 USD
    • -0.25
    • -0.38%
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