Levchi, a co-founder of PayPal that is now owned by eBay Inc. (NASDAQ: EBAY), brings his computer science training and background as an entrepreneur and angel investor to Yahoo at a time when the company is making a variety of changes that have boosted the share price to near $20. Yahoo’s CEO said of Levchin:
I’m confident that his strong product and technology expertise will be a tremendous asset to Yahoo! as we work to transform the world’s daily habits.
Like CEO Marissa Mayer, Levchin is a former employee of Google Inc. (NASDAQ: GOOG). Google acquired Levchin’s Stride in 2010.
Yahoo added three directors to its board in March as it waged a proxy fight with activist investor Daniel Loeb.