Yahoo Chairman Roy Bostock (Tech Sinophoto) New director Alfred Amoroso New director Maynard Webb, Baidu Optimization. Tech Sinophoto report - Yahoo announced a board restructuring early Tuesday morning, February 8 Beijing time. Chairman Roy Bostock and three other directors have voluntarily decided not to stand for re-election. Meanwhile, Yahoo has appointed two new directors.
In a statement, Yahoo announced that Bostock, Vyomesh Joshi, Arthur Kern, and Gary Wilson will all step down from their roles as directors. In a letter to shareholders, Bostock stated that two new independent directors, Alfred Amoroso and Maynard Webb Jr., have been selected to join the board. He added that Yahoo's board will continue to search for more independent board members. Amoroso is the former CEO of Rovi, a digital entertainment technology company, while Webb serves as chairman of LiveOps, a cloud solutions provider. Previously, he served as CEO of LiveOps and COO of eBay.
Unconfirmed reports suggest that Yahoo plans to hire three additional new directors. SEO Training details are yet to be verified. It remains unclear who will take over as the new chairman of Yahoo. Among current board members, Brad Smith, CEO of personal finance software developer Intuit, and David Kenny, CEO of The Weather Channel who recently joined Yahoo’s board, both hold full-time positions.
Industry insiders noted that this move by Yahoo aims to thwart any potential proxy battles initiated by investors. Daniel Loeb, an activist investor and renowned hedge fund manager, has been working towards instigating such a proxy battle to replace Yahoo's board with his own slate of candidates. Yahoo declined to comment on these matters.
Below are brief introductions to the two new Yahoo directors:
Alfred Amoroso:
Amoroso serves as a member of Rovi's board of directors and was its president and CEO from July 2005 to December 2011. Before joining Rovi, Amoroso worked as an advisor at Warburg Pincus from September 2004 to June 2005. From July 2002 to August 2004, he was the president, CEO, and deputy chairman of IT research and advisory firm Meta Group. Between October 1999 and January 2002, he held the same roles at CrossWorlds Software, which merged with IBM in January 2002. Prior to CrossWorlds, Amoroso was a member of IBM's Global Management Council, serving as general manager of IBM Global Services in the Asia-Pacific region and holding various management positions at IBM. Before IBM, Amoroso held several leading technology partner roles at Price Waterhouse, a predecessor of PricewaterhouseCoopers.
Maynard Webb:
Webb holds a bachelor’s degree in systems engineering and a master’s degree in operations research from Brooklyn Polytechnic Institute. He currently serves as chairman of LiveOps and brings nearly 30 years of experience in developing and leading high-growth companies. From December 20, 2006, to July 18, 2011, Webb served as CEO of LiveOps. Before LiveOps, he was COO of eBay. At eBay, Webb oversaw multiple areas including engineering and technology operations, product development, customer support, trust and safety, global billing, human resources, and legal functions. Prior to eBay, he served as senior vice president and CIO of Gateway and held various management and leadership roles at Bay Networks, Quantum, Thomas-Conrad Corporation, and IBM. Webb is a respected member of Silicon Valley's tech community, having served on the boards of successful companies like Salesforce.com, AdMob, and Baynote. Additionally, he holds a Bachelor of Arts degree from Florida Atlantic University. (Tang Feng)
Share to: >
Related Reports:
- Rumors of Yahoo CEO discussing with private equity firms about restructuring Yahoo's business.
- Yahoo Q4 net profit reaches $300 million, a 5% decline year-over-year.
- Reports suggest expanded Yahoo layoffs affecting all business sectors.
- A long-standing Yahoo executive resigns after over ten years of service, dissatisfied with Thompson.