Yahoo! (YHOO) Says Charles Schwab to Resign from Board

February 2, 2016 4:52 PM EST
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Yahoo! (NASDAQ: YHOO) disclosed the following on Tuesday:

On January 28, 2016, Charles Schwab notified Yahoo! Inc. (“Yahoo”) that he was resigning from Yahoo’s Board of Directors (the “Board”) effective February 2, 2016. Mr. Schwab is resigning due to his other professional commitments and demands on his time, and not due to any disagreement with Yahoo on any matter related to Yahoo’s operations, policies or practices. The size of the Board will be reduced to seven directors effective February 2, 2016.

In connection with Mr. Schwab’s resignation from the Board, the Board appointed Maynard G. Webb, Jr., a current director of the Company, to the Audit Committee of the Board, effective February 2, 2016.

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