Yahoo! Appoints Entrepreneur Max Levchin to Board of Directors

  Yahoo! Appoints Entrepreneur Max Levchin to Board of Directors

            David Kenny and Brad Smith Step Down from Yahoo! Board

Business Wire

SUNNYVALE, Calif. -- December 13, 2012

Yahoo! Inc. (Nasdaq: YHOO) today announced that Max Levchin has been appointed
to its board of directors, effective immediately.

Levchin is a computer scientist, serial entrepreneur and angel investor with
extensive experience building enduring Internet companies. His latest
undertaking, HVF, is focused on solving big problems and improving lives by
extracting insights from the vast quantities of data around us. Prior to
founding HVF, Levchin served as vice president of engineering at Google after
its acquisition of Slide, an early developer of social applications which he
founded and ran. Levchin incubated and was the first investor in Yelp. A
graduate of the University of Illinois in Champaign-Urbana, he was one of the
co-founders of PayPal as well as the company’s CTO, from founding through its
acquisition by eBay.

Levchin also serves as chairman of the boards at Kaggle and Yelp and is a
director at Evernote.

“Max is someone I’ve admired throughout my career for his phenomenal sense for
great products and keen focus on user experiences,” said Marissa Mayer, CEO of
Yahoo!. “I’m confident that his strong product and technology expertise will
be a tremendous asset to Yahoo! as we work to transform the world’s daily
habits.”

David Kenny and Brad Smith have decided to step down from the board in order
to focus on their respective companies, effective immediately. There are now
11 directors on the Yahoo! board.

“I’d like to thank David and Brad for their stewardship of the company over
the past few years. Both David and Brad played critical roles in bringing me
to Yahoo!, so I’m especially grateful for the opportunity and trust they’ve
placed in me. They also oversaw some of Yahoo!’s most significant
transactions, including the recent Alibaba repurchase agreement. We will miss
their leadership and partnership, and I know I speak for everyone at Yahoo! in
wishing them the best,” said Mayer.

“The board is thrilled to welcome Max, and we look forward to working with
Marissa and the entire Yahoo! team to continue to drive the company forward,”
said Fred Amoroso, chairman of the board of directors of Yahoo! Inc.

“On behalf of the board, I would like to thank David and Brad for their vision
and dedication to Yahoo!. Their insight has been invaluable in helping to
position Yahoo! so well for the future,” Amoroso continued.

About Yahoo!

Yahoo! is focused on making the world's daily habits inspiring and
entertaining. By creating highly personalized experiences for our users, we
keep people connected to what matters most to them, across devices and around
the world. In turn, we create value for advertisers by connecting them with
the audiences that build their businesses. Yahoo! is headquartered in
Sunnyvale, Calif., and has offices located throughout the Americas, Asia
Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more
information, visit the pressroom (pressroom.yahoo.net) or the company's blog
(yodel.yahoo.com).

Contact:

Yahoo! Inc.
Sara Gorman, 408-349-1909 (Media)
sgorman@yahoo-inc.com
Joon Huh, 408-349-3382 (Investors)
investorrelations@yahoo-inc.com
 
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