Global media and tech company Yahoo has recently expanded its board with Hollywood star Jessica Alba and five other members. According to industry insiders, the company wants to “diversify its offerings” with the move in order to compete with heavyweights like Google’s parent company Alphabet and Facebook’s parent company Meta.
Alba’s business career is mostly tied to consumer wellness brand The Honest Company, which she co-founded with Christopher Gavigan. She currently owns 6.5 percent of the company and serves as its chief creative officer.
Joining Alba are former Yahoo executive and Moxxie Ventures founder Katie Stanton, K5 Global’s founder Michael Kives, Array’s CEO Fouad ElNaggar, Aryeh Bourkoff, CEO of investment bank LionTree, and Cynthia Marshal, the CEO of NBA franchise Dallas Mavericks.
“We’re thrilled to welcome such high-caliber executives to the Yahoo board of directors, which we view as testament to Yahoo’s leadership in delivering seamless consumer products and digital media solutions at unparalleled scale, and the opportunities that lie ahead,” said Yahoo’s chairman Reed Rayman.
Yahoo is considered one of the pioneers of the 1990s internet era and was once the dominant force in the business. However, the company has been struggling since the late 2000s and has changed owners several times. It was most recently purchased by Apollo Global Management last year in a $5 billion deal.
