Yahoo's Overhauled Board Will Meet For The First Time Next Week

loeb vikingLoeb wants loot.

Photo: Dylan Love

Yahoo’s new board of directors will meet in person for the first time next week after the July 4 break, we’ve learned from a source.The board no longer includes longtime chairman Roy Bostock, Yahoo cofounder Jerry Yang, or Patti Hart, who hired Yahoo’s disgraced former CEO Scott Thompson.

Now Fred Amoroso is chairman of the board. Dan Loeb, the hedge fund activist who pushed the changes, has a seat too. So does turnaround specialist Harry Wilson and Michael Wolf, one time MTV boss.

The new team has a lot to figure out:

  • Do they keep interim CEO Ross Levinsohn in his job? We’ve heard its Levinsohn’s job to lose, but the board has hired executive search firm Spencer Stuart to look for other candidates anyway.
  • How can Yahoo get its patent talks with Facebook out of neutral? We hear that despite Scott Thompson’s departure, talks remain slow between the companies.
  • Should Yahoo sell its ad tech business to Google? One Yahoo-watcher estimates the company could cut 2,000 jobs and increase its EBIDTA by 50% doing this deal.
  • How should Yahoo payout the cash it made selling its stake in Alibaba? Loeb, who owns 5% of the company, conquered Yahoo pushing out its CEO and a bunch of directors. He will want loot.

Related: EXCLUSIVE: Ross Levinsohn’s Plan To Turn Around Yahoo

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