Yahoo, the nearly three-decade-old internet brand, is adding six new members to the privately held company’s board, including actor and entrepreneur Jessica Alba.
Verizon Media sold Yahoo last year for $5 billion to private-equity firm Apollo Group, while the telco retained a 10% ownership stake. The company hired Jim Lanzone, former Tinder and CBS exec, as CEO.
Joining Lanzone and representatives from Apollo and Verizon on the Yahoo board are: Alba, founder and chief creative officer of mission-driven consumer products company The Honest Co.; Aryeh Bourkoff, founder and CEO of investment bank LionTree; Cynthia Marshall, CEO of the Mark Cuban-owned Dallas Mavericks; Fouad ElNaggar, co-founder and CEO of Array; K5 Global founder and CEO Michael Kives; and Katie Stanton, founder and general partner of Moxxie Ventures, who previously was a senior exec at Twitter, Google, Yahoo, and Color.
“As we enter into a new era of Yahoo, establishing a powerful board of directors with strategic knowledge of diverse industries will drive greater growth, innovation, and scale,” Lanzone said in an announcement. “The intersection of media, tech, product, and content is more relevant than ever and this board represents the best minds in those categories.”
In a statement, Yahoo chairman Reed Rayman commented, “We’re thrilled to welcome such high-caliber executives to the Yahoo board of directors, which we view as testament to Yahoo’s leadership in delivering seamless consumer products and digital media solutions at unparalleled scale, and the opportunities that lie ahead.”
Yahoo says it reaches an audience of nearly 900 million people worldwide. In addition to Yahoo Finance, its brands include AOL, Engadget, TechCrunch, Yahoo Sports, Yahoo Finance, Yahoo Fantasy and Yahoo Mail.
