NEW YORK--(BUSINESS WIRE)--
Altaba Inc. ("Altaba" or the "Company") (NASDAQ:AABA) today announced
that its board of directors appointed Richard L. Kauffman as an
independent director, effective August 11, 2017, filling the vacancy on
Altaba's board and bringing the total number of directors to five, four
of whom are independent directors.
"We are delighted that Richard has agreed to join the Altaba Board of
Directors," said Eric K. Brandt, chairman of the board of Altaba. "His
world-class financial markets experience and track record of success are
the key skills we were seeking for this Director position. I am
confident he will be a valuable addition as we execute our strategy to
deliver value to our shareholders."
"Richard is a uniquely qualified addition to our Board. His long record
of leadership and accomplishments in the financial services industry,
and more specifically in the capital markets arena, will add significant
judgment and perspective as we look to execute our plan and build
shareholder value," said Thomas J. McInerney, chief executive officer of
Mr. Kauffman is currently the Chairman of Energy & Finance for New York
State, overseeing New York State's entire energy portfolio. He has
previously worked in energy and finance at some of the nation's highest
levels, including as senior advisor to U.S. Energy Secretary Steven Chu
and as the chief executive officer of Good Energies, Inc., a leading
investor in clean energy technologies. He also has held a number of
positions in investment banking, including as a partner of Goldman
Sachs, where he was the chairman of the Global Financing Group, and as
vice chairman of Morgan Stanley's Institutional Securities Business,
co-head of its Global Banking Department, and head of Global Equity
Capital Markets. In addition, he has served as chairman of the Board of
Levi Strauss & Co., where he was also chair of the finance committee.
About Altaba Inc.
Altaba Inc. (NASDAQ:AABA) is an independent, publicly traded,
non-diversified, closed-end management investment company registered
under the Investment Company Act of 1940. The fund's assets
primarily—but not entirely—comprise two investments: the first a
substantial position in Alibaba Group Holding Limited, which has become
one of the world's largest online retailers, and the second in Yahoo
Japan Corporation, now a leading Japanese internet company.
Prior to June 19, 2017, Altaba was known as "Yahoo! Inc." Altaba was
created after the sale of its operating businesses, at which time Yahoo!
Inc. reorganized as an investment company, was renamed Altaba Inc., and
began trading under the Nasdaq ticker symbol AABA. Visit www.altaba.com
for more information.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170815005518/en/
Alan Oshiki or Mike Pascale
Source: Altaba Inc.
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