Former Walmart CEO Lee Scott is among four new members of board of directors at Yahoo, a company whose CEO Marissa Mayer serves on the Walmart board.
Scott served as Walmart CEO from 2000 to 2009 and was a director of the company from 1999 until June 6 of this year when he relinquished his position. For the past two years, he served on the retailer’s board alongside Yahoo CEO Marissa Mayer who joined the board in June 2012. Aside from a brief stint as a director of Goldman Sachs after he stepped down as Walmart CEO, Scott has not served on any other public company boards but does serve on several private boards.
Serving on the Yahoo board will be a more a more lucrative proposition than the Walmart board. Yahoo directors receive an $80,000 retainer and $220,000 in stock while Walmart directors receive a $60,000 retainer and $175,000 in stock. The Yahoo board also meets more frequently that Walmart’s board, or at least that was the case in 2013, when Yahoo directors met 15 times compared to six meetings for the Walmart board.
In addition to Scott, other notable additions to the Yahoo board include Charles Shwab, chairman of The Charles Schwab Corporation and Jane Shaw, a former pharmaceutical executive with Alza Corp. and Aerogen and a former member of the Intel board. In addition, rejoining the Yahoo board is company co-founder David Filo.