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From the News Desk
Monday, 18. August 2008
Yahoo Adds Two New Faces to Its Board of Directors
Internet giant Yahoo, past week, named former Viacom Chief Executive Frank Biondi and former Nextel Chief Executive John Chapple to its board of directors, culminating a deal the company negotiated with Carl Icahn to avoid a proxy fight.
Frank Biondi has served as senior managing director of WaterView Advisors LLC, a private equity limited partnership focused on media and entertainment, since 1999. From April 1996 to November 1998, Biondi served as chairman and chief executive officer of Universal Studios. From July 1987 to January 1996, Biondi served as president and chief executive officer of Viacom.
John Chapple, on the other hand, has served as president of Hawkeye Investments LLC, a privately-owned equity firm investing primarily in telecommunications and real estate ventures, since October 2006. Prior to forming Hawkeye, Chapple served as president, chief executive officer and chairman of the board of Nextel Partners from January 1998 to June 2006, when Sprint Communications purchased the company.
"We are pleased to add people of Frank's and John's caliber to our board. Frank's extensive experience in the entertainment and media industries, combined with John's deep management experience in telecommunications, will provide valuable perspectives to our already diverse board. We look forward to working with them as our board continues its ongoing efforts to enhance stockholder value," commented Yahoo Chairman Roy Bostock.
Earlier this month Yahoo appointed Icahn to the board seat vacated by Robert Kotick, whose resignation became effective following the meeting. The board also voted to expand from nine members to 11. Biondi and Chapple will join Icahn on the board as part of a compromise hammered out with Yahoo's directors in an effort to avoid an all-out proxy fight, which Icahn had threatened in May as a response to Yahoo's failure to reach a merger deal with Microsoft.
Frank Biondi has served as senior managing director of WaterView Advisors LLC, a private equity limited partnership focused on media and entertainment, since 1999. From April 1996 to November 1998, Biondi served as chairman and chief executive officer of Universal Studios. From July 1987 to January 1996, Biondi served as president and chief executive officer of Viacom.
John Chapple, on the other hand, has served as president of Hawkeye Investments LLC, a privately-owned equity firm investing primarily in telecommunications and real estate ventures, since October 2006. Prior to forming Hawkeye, Chapple served as president, chief executive officer and chairman of the board of Nextel Partners from January 1998 to June 2006, when Sprint Communications purchased the company.
"We are pleased to add people of Frank's and John's caliber to our board. Frank's extensive experience in the entertainment and media industries, combined with John's deep management experience in telecommunications, will provide valuable perspectives to our already diverse board. We look forward to working with them as our board continues its ongoing efforts to enhance stockholder value," commented Yahoo Chairman Roy Bostock.
Earlier this month Yahoo appointed Icahn to the board seat vacated by Robert Kotick, whose resignation became effective following the meeting. The board also voted to expand from nine members to 11. Biondi and Chapple will join Icahn on the board as part of a compromise hammered out with Yahoo's directors in an effort to avoid an all-out proxy fight, which Icahn had threatened in May as a response to Yahoo's failure to reach a merger deal with Microsoft.
