Yahoo has new six members of its board of directors, about a year after the internet brand was acquired by private equity firm Apollo for $5billiom with $4.25 billion in cash, plus other interests of $ 750million. Verizon will be retaining 10% of the newly rebranded company. This is a new era for yahoo, “yahoo CEO ( and former VZM head) Guru Gowrappan said in a release tied to the news. “The deal is an exciting one which will bring opportunity for us as a standalone entity. We hope the coming months and years will bring fresh growth and innovation for Yahoo as a business and a brand, and we look forward to creating that future with our new partners.”
The new board members include Jessica Alba, actress and Founder of The Honest Company, Aryeh bourkoff founder and CEO of the independent global investment firm Lion Tree, and an investor in Yahoo. Fouad EINaggar, Co founder and CEO of Array and Sapho (acquired by Citrix); Michael Kires, founder and CEO of K5 Global, an incubator with investments in Space X, Coinbase, FTX and others; Cynthia Marshall, CEO of the Dallas Mavericks and 36 year Veteran of AT&T and Kate Stanton, founder and general partner at Moxxie Ventures.
Jessica Alba is one of the board member of yahoo is the founder and Chief Creative Officer of The Honest Company, a mission-driven brand focused on leading the clean lifestyle movement, which launched in 2012 with a mission to inspire everyone to love living consciously. Alba is also an actor, advocate, and New York Time best selling author.
Aryeh Bourkoff: Founder and CEO of LionTree, an independent global investment and merchant bank focused on technology, media, and the digital economy. Lion Tree has advised on some of the largest and most transformational transactions across media and technology, and is an investor in yahoo.
Fouad EINaggar: Co-founder and CEO of Array and Co Founder and CEO of Sapho, which was acquired by Citrix. He was also Chief Strategy officer at CBS interactive, overseeing strategy, operations, partnerships and M&A, at CBSi, EINaggar structure deals with partners such as yahoo, IAC, and Twitch.
Michael Kives: Founder and CEO of K5 Global, and incubation and investment firm, with investments in SpaceX, the Boring Company, combase, and FTX, and incubated companies including Kendall Jenner’s 818 Tequilla.
Cynthia Marshall: CEO of the Dallas Mavericks, who has helped transform the culture of the Dallas Mavericks franschise. She has been a dynamic force for inclusion and diversity within the Mavericks Organisation and over a 36 year career at AT&T.
Katie Stanton: Founder and General partner of Moxxie Ventures. Prior to Moxxie, Stanton served in numerous executive operating roles at Twitter, Google, Yahoo, and color. She is also the former special advisor to the office of innovation at the US State Department. Establishing a powerful board of Directors with verse knowledge of diverse industries will bring about greater growth, innovation and scale, ” said Lanzone. We are thrilled and elated to welcome the high calliber executives to the Yahoo Board of Directors, which is of advantage to yahoo’s leadership in satisfying consumers and also bringing about solutions to the digital media aspect.
Yahoo reaches nearly 900million people around the globe, bringing them close to finance, sports, gaming, news and shopping with the trusted products, content and tech that fuel their day. The six tech veterans bring varied experiences from various fields such as digital media, private equity, entertainment etc. They join representation from Apollo and Verizon, as well as yahoo CEO Jim Lanzone, who joined the company last year after serving as a CEO of Tinder.
Jim Lanzone breaks up with Tinder, and took the job at yahoo. Lanzone’s tenure at Tinder was 14months short lived but perhaps with the hope of broading ones spectrum. He spent years running CBS interactive, among other roles in media, and digital media, including dabbling in founding digital media startups, such as online video guide. Jim Lanzone has a great record of leading and growing innovative business in our industry and Yahoo feels great to bring him on board with his verse experience and managerial skills We are confident Jim is a leader to Shepherd Yahoo through a transformational new height that can leverage the best of yahoo’s platform and performance to reach new level.
The six board members is a great change but the company is in a period of transition under its new ownership and leadership.
“As Yahoo enters a new era with its great board of directors with diverse knowledge and skills, the industry is set to move to a new level. ” The intersection of media, tech, product, and content is more relevant than ever and this board represents the best minds in those categories.
Yahoo business has experience a great momentum reflected in our financial performance, user engagement figures and perhaps most importantly, the quality of talent that has joined the company over the last few months. Said Yahoo Chairman Reed Rayman.