Yahoo confirms chairman Fred Amoroso is stepping down

Yahoo confirms chairman Fred Amoroso is stepping down

Summary: Yahoo will be embarking on a leadership shakeup as its chairman will not seek reelection.

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Yahoo confirmed on Thursday that its chairman, Fred Amoroso, will be stepping down from his post.

Officially, Amoroso is resigning as chairman, but he will continue to serve on the board through the Yahoo shareholders meeting on June 25.

For now, Maynard Webb, Jr. will serve as interim chairman.

Yahoo chief executive officer Marissa Mayer commented in prepared remarks that "Fred's mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo."

Amoroso was installed as chairman of Yahoo's board last spring amid a tumultuous time for the already beleaguered technology company.

He replaced Roy Bostock, who stepped down from his role as non-executive chairman, while CEO Scott Thompson was on the way out following a public relations maelstrom over his resume.

It was then up to Amoroso to oversee Mayer's installation as CEO of the Cupertino, Calif.-headquarted business in July 2012.

Following the completion of Amoroso's term, the board will be comprised of just 10 members.

Yahoo did not offer any further details about Amoroso's next plans.

Topics: Tech Industry, Leadership

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