Yahoo! has appointed former Nextel Partners boss John Chapple and former Viacom and Universal Studios chief Frank Biondi to its board of directors.
Yahoo!’s billionaire investor, Carl Icahn, hoped to oust the board of directors and appoint his own board, which would favour Yahoo!’s sale to Microsoft.
However, Icahn was forced to accept an offer of several seats on an extended Yahoo! board for him and his nominated associates, after it became clear that he had failed in his attempt to win shareholder backing.
Icahn has reportedly spent billions of dollars to gain a 5% stake in the online search company.
Commenting on the appointments, Yahoo! chairman Roy Bostock said: “We look forward to working with them as our board continues its ongoing efforts to enhance stockholder value.”
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