Yahoo! Inc., a month after hiring Scott Thompson as chiefexecutive officer, added two directors and announced the departureof Chairman Roy Bostock and three others in a board shakeup aimedat spurring a turnaround.

Alfred Amoroso, a former International Business Machines Corp.executive who ran Rovi Corp. until last year, and Maynard Webb,EBay Inc.'s ex-chief operating officer, will join the board, Yahoosaid today in a statement. Bostock, Gary Wilson, Arthur Kern andVyomesh Joshi, meanwhile, won't stand for re-election asdirectors.

Yahoo, the biggest U.S. Web portal, has faced mounting pressurefrom shareholders to revamp management following years of decliningsales and market-share losses to Google Inc. and Facebook Inc. Thecompany, in the midst of a strategic review, said today it hasweighed proposals for equity investments yet hasn't received anattractive offer. It continues to discuss a possible sale of itsholdings in Asian assets, including Alibaba Group Holding Ltd.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.