Longtime Yahoo board member Ron Burkle, who has served as a director for the Internet company since November 2001, plans to step down so that he can pursue other business interests, the company said.

His departure follows two other Yahoo directors, Carl Icahn and Maggie Wilderotter, who have left in the past four months. The changes come as Yahoo struggles to redeem itself from a three-year financial slump.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...