Yahoo Confirms Board Shake-up
Weather Channel CEO David Kenny is out and PayPal co-founder Max Levchin is in as part of a broader shake-up of Yahoo’s board of directors announced, confirming a New York Times report earlier Thursday.
Yahoo said Kenny, who joined the board in the spring of 2011, had decided to leave along with Intuit CEO Brad Smith, to focus on their respective companies. Kenny has formerly served as president of Akamai and CEO Digitas as well as managing partner of Publicis’ VivaKi unit.
Levchin, whose appointment to the board is effective immediately, also serves as chairman of the boards at Kaggle and Yelp and is a director at Evernote. His latest project is a venture focused on data-mining dubbed HFV for “Hard, Valuable, Fun.”
Bringing in a serial entrepreneur like Levchin, who also founded app developer Slide could be seen as part of Yahoo’s broader effort to generate new ideas and products under CEO Marissa Mayer. Levchin serves as the fourth director nominated by activist investor Daniel S. Loeb, who engineered the ouster of ex-Yahoo CEO Scott Thompson.