More Heads Roll as Dan Loeb Works to Remake Yahoo (YHOO)

Under the direction of activist investor and hedge fund manager, Daniel Loeb, Yahoo (Nasdaq: YHOO) will continue its efforts to revitalize its boardroom. The trend began in July with the appointment of Marissa Mayer as CEO and now takes aim at the company's board of directors. According to reports this morning from the New York Time's DealBook, Yahoo will announce the departure of two board members later this week.

Of the two open seats, one will be replaced by Max Levchin, formerly with PayPal. Rumors says the two departing directors include Brad Smith, the chief executive of Intuit, and David W. Kenny, the chief executive of the Weather Channel.

The changes at Yahoo are being spearheaded by Mr. Loeb, say reports. Loeb joined Yahoo's board in May, and since then heads have rolled. Besides the board and CEO changes, under Loeb's direction Yahoo recently brought fresh blood to a number of key management positions, including a new CFO.

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