Blog Post

Yahoo Picks Ex-Ernst & Young Partner As New Director

Yahoo (NSDQ: YHOO) has filled one of its two vacant board seats with former Ernst & Young partner Sue James. In a release, Yahoo plays up James’ audit work on behalf of a number of tech companies, including Intel Corp. (NSDQ: INTC), Sun Microsystems, Amazon.com (NSDQ: AMZN), HP and Autodesk (A coincidence? Before joining Yahoo, Yahoo CEO Carol Bartz was the CEO at Autodesk).

Bartz says that James’ experience will be “invaluable as Yahoo continues to focus on operational and financial efficiencies.” Fine. But it’s also true that James doesn’t bring any direct media or technology experience to Yahoo’s board, unlike her predecessor, Maggie Wilderotter, who is the CEO of telecom firm Frontier Communications. Wildreotter stepped down from the board at the end of the year. Yahoo still needs to fill the seat of investor Carl Icahn, who quit in late October.

Updated: Rafat adds: From the SEC filing on James’ appointment: James will receive an annual retainer of $80K for her service on the board, an additional annual retainer of $35,000 for serving as Chair of the Audit Committee of the Board, and will participate in Yahoo’s other compensation programs for its non-employee directors. In addition, she will receive a grant of restricted stock units in Feb, subject to Board approval.