Yahoo! Inc., the largest U.S. Web portal, appointed Yelp Inc. Chairman Max Levchin to its board, as Chief Executive Officer Marissa Mayer works to restore management stability and reverse three years of revenue declines.

Brad Smith, Intuit Inc.’s CEO, and David Kenny, former president of Akamai Technologies Inc., will step down from the board, effective immediately, leaving Yahoo with 11 directors, the company said in a statement today. Levchin is also co-founder of eBay Inc.’s PayPal unit and formerly vice president of engineering at Google Inc.

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