Yahoo! Inc. (YHOO:US) is planning to fill out its board of directors with the addition of Jane Shaw, a former pharmaceutical industry executive.
Shareholders will vote on the addition of Shaw, 75, on June 25, at the company’s annual meeting, Sunnyvale, California-based Yahoo said in a statement yesterday. They’ll also vote on nominees David Filo, a Yahoo co-founder, Charles Schwab Corp. Chairman Charles Schwab and former Wal-Mart Stores Inc. Chief Executive Officer Lee Scott, who were all proposed by Yahoo on April 16.
Since taking over as Yahoo’s CEO almost two years ago, Marissa Mayer has revamped the board as part of an overhaul of the company’s strategy. Investor Dan Loeb of Third Point LLC, who helped bring Mayer to the company, stepped down last year, while former American Express Co. marketing chief John Hayes and Tribune Co. CEO Peter Liguori have said they won’t seek re-election.
If confirmed, Shaw would become Yahoo’s third female director, along with Mayer and Susan James, a retired Ernst & Young partner.
Shaw was CEO of AeroGen Inc., a maker of products for respiratory therapy, from 1998 to 2005. She was on the board of Intel Corp. as chairman until 2012, and is currently a director at McKesson Corp.
Adding all four recent nominees would bring the number of Yahoo’s directors (YHOO:US) to nine.
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