Jessica Alba, an actress and co-founder of the Honest Company (a consumer wellness products company), has joined the Yahoo board of directors. Alba was picked from a pool of candidates from the technology, media, finance, sports entertainment, and private equity sectors.
Yahoo chose a diverse collection of leaders to assist its new era of growth and reinvention. According to Reuters, Aryeh Bourkoff, CEO of LionTree, Fouad ElNaggar, CEO of tech firms Array and Sapho, Michael Kives, founder of investment firm K5 Global, Katie Stanton, who has served in executive operating roles at Twitter and Google, and Cynthia Marshall, CEO of American basketball team Dallas Mavericks, will join Alba.
Six new members of Yahoo’s board of directors were revealed today, almost a year after the internet brand was acquired by private equity company Apollo for $5 billion [Disclosure: TechCrunch is owned by Yahoo].
Jessica Alba, actress and founder of The Honest Company; Aryeh Bourkoff, founder and CEO of the independent global investment firm LionTree, an investor in Yahoo; Fouad ElNaggar, co-founder and CEO of Array and Sapho (acquired by Citrix); Michael Kives, founder and CEO of K5 Global, an incubator with investments in SpaceX, Coinbase, FTX, and others; Cynthia Marshall, CEO of the Dallas Mavericks and 36
The six tech veterans have diverse backgrounds in fields such as digital media, private equity, entertainment, and others. They join Apollo and Verizon representatives, as well as Yahoo CEO Jim Lanzone, who joined the firm last year after serving as CEO of Tinder.
Six appointments at once is a significant change, but the corporation is already in transition under new ownership and leadership.
“As we enter a new era of Yahoo,” Lanzone said in a statement, “creating a robust board of directors with strategic understanding of different industries will drive more growth, innovation, and scale.” “The convergence of media, technology, product, and content is more important than ever, and this board represents the brightest minds in those fields.”
Lanzone told The New York Times that he sees the company’s media businesses as separate products, such as TechCrunch and Yahoo Sports. He also stated that he has had many proposals to purchase the assets formerly owned by AOL that are now placed under Yahoo, albeit this is not in Yahoo’s immediate plans. Lanzone stated that he is looking at potential acquisitions in the future, but this is unlikely to happen for at least another year.