JAKARTA - Yahoo on Monday, June 13 appointed six people from the technology, media and finance industries to its board. This appointment includes Hollywood actress, Jessica Alba. This new appointment policy is due to Yahoo, now looking to diversify its offerings to compete with bigger players.
Yahoo, which emerged during the era of desktop PCs connected to dial-up internet connections, has sought to expand its offerings to compete with companies such as Alphabet Inc's Google and Meta Platforms Inc - Facebook.
Last year, Apollo Global Management Inc closed its $5 billion acquisition of Verizon Media and renamed it Yahoo after Verizon's iconic digital brand.
Since then, the website has focused on developing Yahoo Finance and Yahoo Sports, while also focusing on advertising and e-commerce platforms. Yahoo appointed the boss of dating app Tinder, Jim Lanzone, as chief executive officer after the deal closed.
Alba, who is also co-founder of consumer health products company Honest Company, will be joined by Aryeh Bourkoff, chief executive officer of LionTree, a bank that has suggested some of the biggest media mergers, as well as Fouad El Naggar, CEO of technology firms Array and Sapho.
Yahoo also named its board members Michael Kives, founder of investment firm K5 Global, Katie Stanton, who served as operational executive at Twitter and Google, and Cynthia Marshall, CEO of the American basketball team, the Dallas Mavericks.
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