Yahoo co-founder David Filo nominated for company's new board member

Yahoo co-founder and 'Chief Yahoo' David Filo has reportedly been nominated to return back to the company's board of directors after an absence of 18 years.

Filo, who co-founded the Web portal in 1995 with former CEO Jerry Yang, has been reportedly named among the three nominees as new board members.

According to Cnet, Yahoo CEO Marissa Mayer said that as a co-founder and longtime Chief Yahoo Filo, who has also previously served on the board from its founding until February 1996, is the heart and soul of the company and in re-joining the board, he adds 19 years of deep and personal knowledge of Yahoo's business and culture to the conversation.

Filo has been reportedly credited with co-creating Yahoo's Internet navigational guide in 1994 and he has also served as a key technologist directing the technical operations behind the company's network of Web properties following Yang's resignation as Yahoo CEO and from its board in 2012.

The other two nominees as new board members are investor Charles Schwab and former chief executive officer of Walmart H. Lee Scott Jr., the report added.

The nominees would be voted upon by shareholders at Yahoo's annual meeting on June 25, the report further added.