Yahoo's chairman steps down after a year
The chairman of Yahoo’s board of directors has stepped down from that position and will leave the board entirely later this year, Yahoo said Thursday.
Fred Amoroso won’t be seeking reelection when shareholders vote for board members at the company’s June 25 annual meeting of shareholders, the company said. He has returned to a position as director, and Maynard Webb will become Yahoo’s interim chairman.
Amoroso joined the board in February 2012 as Yahoo was embarking on the search for a new CEO. It found one six months later when Marissa Mayer jumped from the executive ranks of Google to head Yahoo.
In a brief statement, Mayer praised Amoroso for his work and the help he provided her when she joined the company.
Amoroso said stepping down has been his plan all along.
“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,” he said in a statement.
“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.”
From July 2005 to December 2011, Amoroso was president and CEO of Rovi, the digital media company formerly known at Macrovision Solutions.