Yahoo adds former PayPal CTO Levchin to board

Yahoo has added Max Levchin to its board of directors, having convinced the former PayPal executive of its potential by hiring Marissa Meyer.

Levchin is an angel investor who started his technology career as one of the founders of PayPal. He comes to Yahoo following the departure of former board directors David Kennedy and Brad Smith.

"[Levchin] is someone I've admired throughout my career for his phenomenal sense for great products and keen focus on user experiences," said Yahoo chief executive Mayer in a statement.

"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."

Yahoo's new board member has been an active member of the Silicon Valley scene since his work with PayPal. Levchin comes to Yahoo following stints as chief technology officer at PayPal and chief executive at Slide.

Along with his board appointment at Yahoo, Levchin is also a board member at Yelp.

Levchin said the opportunity to work with Mayer played a key part in his decision to join Yahoo. 

The new Yahoo board appointment comes as Kennedy and Smith depart.

"I'd like to thank [Kennedy] and [Smith] for their stewardship of the company over the past few years. Both [Kennedy] and [Smith] played critical roles in bringing me to Yahoo, so I'm especially grateful for the opportunity and trust they've placed in me," said Mayer.

"They also oversaw some of Yahoo's most significant transactions, including the recent Alibaba repurchase agreement. We will miss their leadership and partnership, and I know I speak for everyone at Yahoo in wishing them the best."

Smith currently serves as chief executive of QuickBook's maker Intuit. Kennedy is chief executive title at the Weather Channel.