Yahoo! Inc. (Nasdaq: YHOO) today announced
that Fred Amoroso has decided not to seek reelection to the board of directors
at the upcoming 2013 annual meeting of shareholders. Amoroso will continue to
serve on the board through the shareholders meeting on June 25, but has resigned
as chairman of the board. The board has appointed Maynard Webb Jr. to serve as
interim chairman.
"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," said Yahoo! CEO Marissa Mayer. "Fred's mentorship and perspective has
proved truly valuable to me in my first few months here at Yahoo!."
"I'm very grateful and proud of the progress Yahoo! has made over the past
year," said Amoroso. "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."
Following the completion of Amoroso's term at the annual meeting, the board will
comprise 10 members.
Yahoo! is headquartered in Sunnyvale, Calif., and has
offices located throughout the Americas, Asia Pacific (APAC) and the Europe,
Middle East and Africa (EMEA) regions.
Source: Yahoo! Inc.
