Max Levchin has resigned from the board of Yahoo

PayPal cofounder Max Levchin has resigned from Yahoo’s board of directors, the company announced on Wednesday.

CNBC reports that Levchin has resigned from Yahoo’s board effective immediately “due to other commitments” and it was “not due to any disagreement.”

The news follows the announcement that Yahoo had decided not to spin off its stake in Alibaba. Shareholders had been concerned that the spinoff could have incurred billions in dollars in taxes.

This story is developing…

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