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Yahoo! recruits! two! more! pallbearers!
Purple Palace adds former Broadcom man and Morgan Stanley director to board
Two new members have been added to Yahoo!'s board of directors as the web biz continues to ponder its future.
The Purple Palace announced on Thursday that former Morgan Stanley managing director Catherine Friedman and former Broadcom CFO Erik Brandt would take the seats vacated last year when Charles Schwab and Max Levchin stepped down.
The moves add two more financially-minded members to Yahoo!'s board at a time when the former internet giant is poring over bids on a sell-off of its core business that would also likely include the departure of CEO Marissa Meyer.
"Eric and Cathy are both highly respected, experienced practitioners in their fields, and we welcome them to Yahoo!'s board of directors," Yahoo! chairman Maynard Webb said of the new appointments.
Friedman's Morgan Stanley tenure includes a stint as a "strategic and transaction advisor" with the investment firm's healthcare and biotech branch, while Brandt oversaw Broadcom's acquisition at the hands of Avago.
Jerry and David's Guide to the World Wide Web has struggled to right itself under Meyer's leadership – the plan to refocus the former search giant around an advertising business and network of content pushers has failed to yield its promised financial returns, and a plan to bring a cash infusion by selling off Yahoo!'s $32bn stake in Alibaba nearly triggered a shareholder revolt prior to being pulled from the table.
Now, with a sale of the core Yahoo! search and content sites being pursued, the Purple Palace has found itself being courted by the likes of Verizon for a possible tie-up with fellow fallen internet giant AOL in a new network of news and media-sharing sites for the Verizon network. ®