'Chief Yahoo' David Filo returns to board

Apr 17, 2014
Yahoo announced the nomination of three new board members, including company co-founder David Filo, shown in a file picture, who earned the nickname and formal job title of "Chief Yahoo"

Yahoo announced the nomination of three new board members, including company co-founder David Filo, who earned the nickname and formal job title of "Chief Yahoo."

Filo was named along with Charles Schwab, head of a big investment firm bearing his name, and H. Lee Scott, former president and chief executive at Walmart.

"As a co-founder and long time Chief Yahoo, Filo is the heart and soul of the company and in re-joining the board, he adds 19 years of deep and personal knowledge of Yahoo's business and culture to the conversation," Yahoo chief executive Marissa Mayer said.

Filo has been outside the board and executive leadership in recent years but he has continued to hold the "chief Yahoo" title, drawing an annual salary of $1 over the past three years.

Filo co-developed Yahoo in 1994 with Jerry Yang while working towards his Ph.D. in electrical engineering at Stanford University, and he has been an officer since the company was founded in 1995.

"I am incredibly proud to return to the Yahoo board," said Filo. "Jerry and I founded Yahoo as a product focused company that creates compelling experiences through technology, and I'm excited that today we are solidly back on that path."

He added "I am very familiar with Yahoo's history and with the technology underlying everything we do today and more importantly, everything we want to do tomorrow. I look forward to working alongside the other directors as we continue our mission to build the best possible consumer experiences for our users."

The appointments come with Mayer seeking to revive the fortunes of the Internet pioneer, which is seeking a new direction since losing its crown as the leading search engine to Google.

Yahoo also filed documents showing the compensation of top executives including Mayer and Henrique de Castro, who walked away with a huge payout after clashing with Mayer.

Mayer's total 2013 compensation was $24.9 million, down from $36.6 million in 2012 when she was lured from a top job at Google.

De Castro was paid $10.9 million in 2013 for his brief tenure as . But he got a whopping $39 million credited for 2012, including his payout for leaving the in early 2014.

De Castro was given a million dollar "make good" cash bonus when he was hired from Google in October of 2012, and his annual base pay was $600,000.

He also secured an award of $20 million worth of "make-good" stock shares, which are his to keep if Yahoo is letting him go without cause, according to a termination clause in his hiring letter.

Explore further: Yahoo in talks to buy NDN video

add to favorites email to friend print save as pdf

Related Stories

Yahoo chief operating officer out

Jan 15, 2014

Yahoo chief operating officer Henrique de Castro is walking away with a stock award of $20 million as the company struggles to boost revenues, regulatory filings showed.

Yahoo! users will be mostly mobile in 2014, CEO says

Jan 22, 2014

Struggling Internet giant Yahoo! will see more users accessing its services by mobile in 2014 than classic desktops, chief executive Marissa Mayer said on Wednesday at the Davos World Economic Forum.

Yahoo in talks to buy NDN video

Apr 01, 2014

US Internet giant Yahoo is in talks to buy the online video service NDN, which could help it compete with YouTube, The Wall Street Journal reported Monday.

Yahoo sees signs of growth in 'core' (Update)

Apr 15, 2014

Yahoo reported a stronger-than-expected first-quarter profit Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business.

Recommended for you

Japan's NTT to buy German data centre operator

8 hours ago

Japanese telecom giant NTT Communications is looking to acquire German data centre operator e-shelter, as it seeks to cash in on growing demand in Europe, a newspaper reported Saturday.

Google hits back at rivals with futuristic HQ plan

Feb 27, 2015

Google unveiled plans Friday for a new campus headquarters integrating wildlife and sweeping waterways, aiming to make a big statement in Silicon Valley—which is already seeing ambitious projects from Apple ...

Ericsson sues Apple over patent violations

Feb 27, 2015

Swedish telecoms group Ericsson announced Friday a lawsuit against Apple claiming that the US tech giant continued to use its technology in iPhones and other wireless devices after refusing to renew a licencing ...

Stock market shrugs off net neutrality vote

Feb 27, 2015

(AP)—The stock market largely shrugged off the Federal Communications Commission's vote to impose tougher rules on broadband providers like Comcast, Verizon and AT&T to prevent them from creating paid fast lanes for the ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.