Intuit CEO Smith to step down from Yahoo's board

US-YAHOO-BOARD:Intuit CEO Smith to step down from Yahoo's board

SAN FRANCISCO (Reuters) - Intuit Inc Chief Executive Brad Smith will not stand for re-election to Yahoo Inc's board of directors, part of a broader boardroom shuffle that will bring former PayPal executive Max Levchin to the board, according to a report in the New York Times.

David Kenny, CEO of the Weather Channel, will also leave Yahoo's board, according to the report.

Smith, a Yahoo director since 2010, is leaving Yahoo so that he can focus on his role leading Intuit, an Intuit spokeswoman said on Thursday.

The changes come five months after former Google Inc executive Marissa Mayer became CEO of Yahoo in the hope of revamping the struggling Internet company.

Yahoo, Levchin and Kenny did not respond to requests for a comment.

Shares of Yahoo were up 10 cents at $19.48 on Thursday afternoon on the Nasdaq.

(Reporting by Alexei Oreskovic; editing by Matthew Lewis)

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