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Yahoo snubs activist shareholder with 2 new directors

2016-03-11 09:03:47| Semiconductors - Topix.net

Yahoo has set up a battle for control of its board by appointing two directors likely to further agitate an activist shareholder threatening an attempt to oust CEO Marissa Mayer unless she bows to demands to sell the company's Internet operations. Yahoo Inc. named former Morgan Stanley investment banker, Catherine Friedman, and Eric Brandt, chief financial officer of computer chipmaker Broadcom Corp. The decision, announced Thursday, increases the likelihood that the unhappy shareholder, Starboard Value, will nominate an opposing slate to run against Yahoo's board of nine directors in a proxy fight.

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