Yahoo Chairman Fred Amoroso resigns ahead Board meeting

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Fred Amoroso, who became Yahoo chairman at a time of turmoil inYahoo, has resigned his position, the company announced on Thursday.

Amoroso will remain on the board until company’s annual shareholders meeting on June 25  . He will not be seeking re-election. Maynard Webb Jr., former CEO of cloud-based call services company LiveOps, has been appointed interim chairman.

In a statement on Thursday, Amoroso said “I’m very grateful and proud of the progress Yahoo has made over the past year. 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.”

“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,” Marissa Mayer said in a statement. She also added, “Fred’s mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo.”

 

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