Yahoo Board Chairman Amoroso Resigns After One Year
Board leader Fred Amoroso resigned his position but will continue to serve on the board through its June annual meeting.Yahoo has gone through its share of leadership change over the last few years, and now it's happening again. The huge Web services provider revealed to the Wall Street Journal April 25 that the chairman of its board of directors, Fred Amoroso, has resigned his position but will continue to serve on the board through its June annual meeting.
Yahoo said Amoroso, who held the chairmanship for only one year, will be succeeded in the interim by Maynard Webb Jr. Webb, like Amoroso, has been a member of Yahoo's board since February last year. Webb is known as a key proponent of current CEO Marissa Mayer, who took over in July 2012. Mayer, who has been overseeing employee cutbacks and repositioning of Yahoo's products and services, is expected to stop the revolving door leading into the Yahoo CEO's office, which has been the basis of the company's leadership problem.
"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," Mayer said in a statement. "Fred's mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo."