Hedge Fund Hunk Dan Loeb Plans to Announce Max Levchin to Yahoo Board
Hedge fund Third Point manager Dan Loeb whose fight for control of Yahoo paved the way for Marissa Mayer’s CEO spot is on the verge of gaining control of another seat on Yahoo’s board.
Yahoo plans to announce that Max Levchin, former CTO of Paypal, will join the company’s borad. Read bvelow more about Loebs Yahoo battle.
Mr. Scott Thompson Chief Executive Officer Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089 March 28, 2012 Dear Scott: As we discussed, Third Point LLC (“Third Point”), Yahoo!’s largest outside.
Hedge fund Third Point, which has a 5.8% stake in Yahoo (YHOO), said it believes the company would fare better if its representatives were in the boardroom helping overhaul Yahoo.