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'Serial entrepreneur' Max Levchin joins Yahoo in board shake-up

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By Noel Young, Correspondent

December 13, 2012 | 2 min read

There's no stopping the new Yahoo. In its drive to become a top technology company once more, Yahoo has appointed one of Paypal's founders , Max Levchin,to its board, effective immediately.

Max Levchin; admired by Mayer

Breaking the news, Yahoo described Levchin as "a computer scientist, serial entrepreneur and angel investor with extensive experience building enduring Internet companies."

His latest undertaking, HVF, focused on "solving big problems and improving lives by extracting insights from the vast quantities of data around us".

Prior to founding HVF, Levchin was vice president of engineering at Google after it bought Slide, an early developer of social applications which he founded and ran.

Yahoo CEO Marissa Mayer said she had admired Max throughout her career "for his phenomenal sense for great products and keen focus on user experiences.

“I’m confident he will be a tremendous asset to Yahoo! as we work to transform the world’s daily habits.”

Meantime David Kenny and Brad Smith have decided to step down from the Yahoo board to focus on their respective companies. There are now 11 directors on the Yahoo! board.

Levchin is the fourth director nominated by Daniel S. Loeb, the hedge fund manager who joined Yahoo’s board in May after mounting a challenge to the company’s directors.

Besides himself, the other two are media consultant Michael J. Wolf, and Harry Wilson, a turnaround expert who served on the Obama's automotive task force.

Since joining Yahoo’s board, the New York Times pointed out, Loeb has helped orchestrate a number of changes at Yahoo - including hiring Ms. Mayer.

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