Yahoo adds 1 director as 2 board members exit

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Associated Press

Posted on December 13, 2012 at 3:00 PM

Updated Thursday, Dec 13 at 3:02 PM

SAN FRANCISCO (AP) — Yahoo is adding a new director and parting ways with two other board members in the latest shake-up of the Internet company's hierarchy.

PayPal co-founder Max Levchin joins Yahoo's board while Intuit CEO Brad Smith and Weather Channel CEO David Kenney step down.

The changes announced Thursday pare Yahoo's board to 11 directors. All but one of them, former accounting executive Sue James, have joined Yahoo's board this year.

The overhaul is part of an effort to bring in new ideas as Yahoo tries to revive revenue growth and snap itself out of a malaise that has left its stock price well below where it stood five years ago.

Yahoo hired former Google Inc. executive Marissa Mayer five months ago to orchestrate the turnaround effort.

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