Corporate News Blog - Richard L. Kauffman joins Altabas Board as Independent Director

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Accesswire 17-Aug-2017 7:10 AM
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LONDON, UK / ACCESSWIRE / August 17, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Altaba Inc. (NASDAQ: AABA), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=AABA. The Company announced on August 15, 2017, that its Board of Directors has appointed Richard L. Kauffman as an independent director. His appointment was effective as on August 11, 2017. His appointment filled the vacancy on Altaba's Board. Following the appointment of Richard, Altaba's Board has a total of five members out of which four are independent directors. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Commenting on Richard's appointment, Eric K. Brandt, Chairman of Altaba's Board, said:
"We are delighted that Richard has agreed to join the Altaba's Board of Directors. 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."
Thomas J. McInerney, CEO of Altaba, added:
"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."
Profile of Richard L. Kauffman
Richard L. Kauffman is currently the Chairman of Energy & Finance for New York State. He oversees and manages New York State's entire energy portfolio, including the New York State Department of Public Service, the New York Power Authority, the Long Island Power Authority, and the New York State Energy Research and Development Authority (NYSERDA). Richard is also the Chair of the NYSERDA Board since his appointment on June 19, 2013.
Before joining the New York State's administration, Richard has worked in energy and finance sectors at very high profile and senior levels, including as senior advisor to US Energy Secretary Steven Chu and as the CEO of Good Energies, Inc., a leading investor in clean energy technologies. He also has had an illustrious career in the investment banking and finance sector and has held several senior level positions. He was a Partner at Goldman Sachs and was the Chairman of the Global Financing Group. In his stint with Morgan Stanley, he was with their Institutional Securities Business, co-head of their Global Banking Department, and head of Global Equity Capital Markets. He has served as the Chairman of Board of the Levi Strauss & Co., where he also chaired their finance committee.
In 2014, Fortune Magazine named Richard as one of the World's Top 25 Eco-Innovators.
Richard has a Bachelor's Degree from Stanford University, a Master's Degree in International Relations from Yale University, and a Master's Degree in Public and Private Management from the Yale School of Management.
About Altaba Inc.
Altaba came into existence on June 16, 2017, after Yahoo! Inc. completed the sale of its operating business to Verizon Communications Inc. (NYSE: VZ). Yahoo reorganized as an investment Company and changed its name to Altaba Inc. In its new avatar, Altaba Inc. is a publicly traded, non-diversified, closed-end management investment Company registered under the Investment Company Act of 1940. The Company's shares are listed on NASDAQ Exchange under the ticker "AABA". The Company has various investments, prominent among them are Altaba's investment in Alibaba Group Holding Limited, one of the world's largest online retailers and second is an investment in Yahoo Japan Corporation, a leading Japanese internet Company.
Last Close Stock Review

On Wednesday, August 16, 2017, the stock closed the trading session at $60.65, rising 1.10% from its previous closing price of $59.99. A total volume of 7.64 million shareshave exchanged hands. Altaba's stock price soared 22.16% in the last three months, 32.86% in the past six months, and 42.74% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have skyrocketed 56.84%. At Wednesday's closing price, the stock's net capitalization stands at $54.37 billion.

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