Loeb also revealed inaccuracies in Hart's resume. The document stated that she held a bachelor's degree in marketing and economics from Illinois State University. Yahoo later acknowledged that Hart's degree was a B.S. in "business administration with specialties in marketing and economics."

The committee's other members are John Hayes and Thomas McInerney, independent directors who joined the Yahoo board in April. Yahoo also hired a former federal prosecutor to act as the board's independent counsel. He is Terry Bird of the law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg.

The formation of the committee was earlier Tuesday by The Wall Street Journal.

The IDG News Service