SUNNYVALE, Calif.--(BUSINESS WIRE)--
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
"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 focused on making the world's daily habits inspiring and
entertaining. By creating highly personalized experiences for our users,
we keep people connected to what matters most to them, across devices
and around the world. In turn, we create value for advertisers by
connecting them with the audiences that build their businesses. Yahoo!
is headquartered in Sunnyvale, California and has offices located
throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East
and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net)
or the company's blog (yodel.yahoo.com).
Sara Gorman, 408-349-1909 (Media)
Huh, 408-349-3382 (Investors)
Source: Yahoo! Inc.
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