Fred Amaroso Resigns As Yahoo Chairman

YahooThe board picked author and investor Maynard Webb Jr to serve as interim chairman. And the number of directors will soon drop to 10 from 11: Fred Amaroso says that he won’t seek reelection to the board at the June 25 annual meeting. The former Rovi CEO says that when he became 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.” Now that Marissa Mayer has taken the reins “this is a natural time for me to transition off the board.” Mayer says that Amaroso “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.”

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