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Yahoo Adds Directors as Proxy Fight, Potential Sale Loom

  • Catherine Friedman, Eric Brandt fill seats of Schwab, Levchin
  • Both have had experience in helping with company transactions
Updated on

Yahoo! Inc. added two new independent directors who have experience in helping sell companies, bulking up the board as the struggling Web portal faces a potential proxy battle and considers unloading its Internet businesses.

Eric Brandt, former chief financial officer of Broadcom Corp., joins Yahoo after helping guide the chipmaker in its sale to Avago Technologies for $37 billion. The company also appointed Catherine Friedman, previously a managing director at Morgan Stanley, where she served as strategic and transaction adviser, Yahoo said Thursday in a statement. Yahoo last month said it was pursuing strategic options, a move that could result in a sale of the core Web operations.