Yahoo Chairman Fred Amoroso stepped down from his post on 25 April 2013. Yahoo! Inc. announced that he will not seek reelection to the board of directors at the upcoming 2013 annual meeting of shareholders. He will serve on the board through the shareholders meeting on 25 June 2013. Maynard Webb Jr has been appointed to serve as interim chairman.
Alfred J. Amoroso replaced Roy Bostock as Yahoo's chairman of the board of directors in May 2012 at the same time when Ross Levinsohn was installed as interim CEO. He led the team that investigated Yahoo's former CEO, Scott Thompson for fabricating an academic degree. He also played a part to bring Marissa Mayer from Google to serve as Yahoo's new CEO.
Yahoo! CEO Marissa Mayer said in a statement: "Fred has been a wonderful chairman for Yahoo! over the past year, and I'm personally grateful for his trust and guidance as I took on the role as Yahoo! CEO. Fred's mentor-ship and perspective has proved truly valuable to me in my first few months here at Yahoo!."
Fred Amoroso issued statement: "I'm very grateful and proud of the progress Yahoo! has made over the past year. When I took the position as chairman, I told the board that my intention was to serve for one year, in order to help Yahoo! during a critical time of transformation. In that time, Yahoo! hired a great new CEO, brought on a fantastic management team, revitalized the employee base, and has begun to release top notch new products. With Marissa at the helm and the leadership team in place, this is a natural time for me to transition off the board, consistent with what I said a year ago."
Interim chairman, Maynard Webb has impressive background, including serving as the COO of eBay and the CEO of LiveOps. After the end of Amoroso's term at the annual meeting, the Yahoo board will comprise of 10 members. Yahoo's stock was essentially flat after the news, with the shares price going down 8 cents to $25.12 in after-hours trading on Thursday.
Source:
Fred Amoroso to not Seek Reelection to Yahoo! Board of Directors
Alfred J. Amoroso replaced Roy Bostock as Yahoo's chairman of the board of directors in May 2012 at the same time when Ross Levinsohn was installed as interim CEO. He led the team that investigated Yahoo's former CEO, Scott Thompson for fabricating an academic degree. He also played a part to bring Marissa Mayer from Google to serve as Yahoo's new CEO.
Yahoo! CEO Marissa Mayer said in a statement: "Fred has been a wonderful chairman for Yahoo! over the past year, and I'm personally grateful for his trust and guidance as I took on the role as Yahoo! CEO. Fred's mentor-ship and perspective has proved truly valuable to me in my first few months here at Yahoo!."
Fred Amoroso issued statement: "I'm very grateful and proud of the progress Yahoo! has made over the past year. When I took the position as chairman, I told the board that my intention was to serve for one year, in order to help Yahoo! during a critical time of transformation. In that time, Yahoo! hired a great new CEO, brought on a fantastic management team, revitalized the employee base, and has begun to release top notch new products. With Marissa at the helm and the leadership team in place, this is a natural time for me to transition off the board, consistent with what I said a year ago."
Interim chairman, Maynard Webb has impressive background, including serving as the COO of eBay and the CEO of LiveOps. After the end of Amoroso's term at the annual meeting, the Yahoo board will comprise of 10 members. Yahoo's stock was essentially flat after the news, with the shares price going down 8 cents to $25.12 in after-hours trading on Thursday.
Source:
Fred Amoroso to not Seek Reelection to Yahoo! Board of Directors
