Yahoo! chairman steps down

News Broadband Global 8 FEB 2012
Yahoo! chairman steps down
Yahoo! announced further changes to its board of directors, including the resignation of chairman Roy Bostock. After the earlier announced appointment of Scott Thompson as CEO and resignation of co-founder Jerry Yang from the board, Yahoo! said four board members will step down at the next AGM. These are Boystock, Vyomesh Joshi, Arthur Kern and Gary Wilson. Alfred Amoroso, the former CEO of Rovi, and Maynard Webb, chairman and former CEO of LiveOps, will be named to the board as independent directors, and Yahoo! is looking for additional independent directors to expand the board. As a result of the changes, the majority of the board's members will be new after the AGM, and all directors will have joined the board since 2010. The new management comes amid a strategic review started last year at Yahoo!. The internet company said it has pursued a wide range of discussions with potential partners and considered proposals of an equity investment in the company, but has yet to find a deal considered attractive to shareholders. It also confirmed "active discussions" are underway on restructuring its holdings in the Asian companies Alibaba and Yahoo! Japan. Yahoo! said talks will continue but it cannot say whether any deal will be reached.

Categories:

Internet

Companies:

Yahoo!,  Yahoo! Japan,  Rovi

Regions:

Global

Tags:

Messaging, Portals / social media, Advertising services, Corporate strategy, Officers & directors

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