Yahoo Founder David Filo returns to its Board of Directors

California: Yahoo Inc has  announced the nomination of three new members to the company’s board of directors. Shareholders will vote on the nominees at the company’s Annual Meeting on June 25, 2014. The nominees are:

• David Filo, co-founder, Yahoo! Inc. and Chief Yahoo
• Charles R. Schwab, Chairman and a director of The Charles Schwab Corporation
• H. Lee Scott, Jr., former President and Chief Executive Officer, Walmart

“The addition of David Filo, Charles Schwab and Lee Scott adds significant depth and breadth of experience to the Yahoo board,” said Marissa Mayer, CEO of Yahoo.

“As a co-founder and long time Chief Yahoo, Filo is the heart and soul of the company and in re-joining the board, he adds 19 years of deep and personal knowledge of Yahoo’s business and culture to the conversation,” Mayer said. “Chuck brings a wealth of experience to the board, having built a well-respected brand and having grown a successful business from the ground up. Lee is a world-class business leader who understands the importance of operational excellence and international scale, and he will lend a unique perspective to the group. I am confident that with today’s nominations, we bring the right mix of voices and experience to the Yahoo board, positioning the company to deliver even more value to our users, our advertisers and our shareholders moving forward.”

“We are thrilled to be able to nominate three experienced and passionate leaders to our Board of Directors,” said Maynard Webb, chairman of the board at Yahoo. “As experienced directors, founders, and CEOs of Fortune 500 companies, David Filo, H. Lee Scott, Jr. and Charles Schwab each bring immense expertise and fresh perspectives that I’m confident will benefit the company and its owners. We are also very grateful for the service and contributions made by John Hayes and Peter Liguori, and thank them for their wisdom and guidance.”

“I am incredibly proud to return to the Yahoo board,” said Mr. Filo. “Jerry and I founded Yahoo as a product focused company that creates compelling experiences through technology, and I’m excited that today we are solidly back on that path. I am very familiar with Yahoo’s history and with the technology underlying everything we do today and more importantly, everything we want to do tomorrow. I look forward to working alongside the other directors as we continue our mission to build the best possible consumer experiences for our users.”

“I’m excited to be nominated to join the board of such a vital company,” Mr. Schwab said. “Yahoo sits at the heart of the world’s digital revolution and nothing is more interesting and with greater potential than engaging with a team of people devoted to improving our daily lives.”

“I am both honored and excited to be nominated for the Yahoo board,” said Mr. Scott. “Yahoo is in the midst of one of the most extraordinary transformations the Internet industry has seen, and I am impressed by the company’s renewed commitment to building beautiful consumer products for millions of people worldwide. I’m excited to bring the unique learnings and experiences from my career to the Yahoo Board, and to help propel the company on a path of steady growth.”