Yahoo Chairman Roy Bostock (Tech News Sina) New director Alfred Amoroso New director Maynard Webb, Baidu Optimization
Sina Technology reported at midnight on February 8th that Yahoo announced a board restructuring. Chairman Roy Bostock and three other directors have voluntarily decided not to stand for re-election. Simultaneously, Yahoo appointed two new directors.
In the statement issued today, Bostock, Vyomesh Joshi, Arthur Kern, and Gary Wilson will all step down from their positions as directors. Bostock informed Yahoo shareholders in a letter that two new independent directors, Alfred Amoroso and Maynard Webb Jr., have been selected to join the board. He also mentioned that the Yahoo board will continue to search for more independent board members. Amoroso is the former CEO of Rovi, a U.S. digital entertainment technology company, while Webb is the chairman of LiveOps, an enterprise cloud solutions provider. Previously, he served as CEO of LiveOps and COO of eBay.
There are reports indicating that Yahoo plans to hire three additional new directors, but this information has yet to be confirmed. SEO Training.
It remains unclear who will become the new chairman of Yahoo. Among the current board members, Brad Smith, CEO of personal finance software developer Intuit, holds a full-time position. Similarly, David Kenny, CEO of The Weather Channel, who recently joined the Yahoo board, also has a full-time role.
Industry analysts suggest that Yahoo's move aims to thwart potential proxy battles initiated by investors. Daniel Loeb, Yahoo's activist investor and renowned hedge fund investor, has been actively pursuing a "proxy fight" to establish his own slate of Yahoo directors. Yahoo declined to comment on this matter.
Below are brief introductions to the two new Yahoo directors:
Alfred Amoroso:
Amoroso is a member of the Rovi board and served as its president and CEO from July 2005 to December 2011. Before joining Rovi, Amoroso worked as an advisor for Warburg Pincus from September 2004 to June 2005. From July 2002 to August 2004, he was the president, CEO, and vice-chairman of Meta Group, an IT research and advisory firm. Between October 1999 and January 2002, he held the same roles at CrossWorlds Software, which merged with IBM in January 2002. Prior to his tenure at CrossWorlds Software, Amoroso was a member of IBM's Global Management Council and served as General Manager of IBM Global Services in the Asia-Pacific region. He held various managerial positions at IBM before joining the company. Before IBM, Amoroso held several leading technology partner roles at Price Waterhouse, one of the predecessors 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. Currently serving as the chairman of LiveOps, he boasts nearly 30 years of experience in developing and leading high-growth companies. From December 20, 2006, to July 18, 2011, Webb served as the CEO of LiveOps. Before joining LiveOps, he was the COO of eBay. During his time at eBay, Webb guided 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 Chief Information Officer at Gateway. Additionally, he held various management and leadership positions at Bay Networks, Quantum, Thomas-Conrad Corporation, and IBM. Webb is a respected member of the Silicon Valley tech community and has served on the boards of several successful companies, including Salesforce.com, AdMob, and Baynote. He also holds a Bachelor’s degree in Liberal Arts from Florida Atlantic University. (Tang Feng)
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