Yahoo said Chairman Fred Amoroso has resigned but will serve on the Web portal’s board until its June annual meeting.
Mr. Amoroso, who was named chairman last May, will be succeeded in the interim by Maynard Webb Jr., the company said. Mr. Webb has been a member of Yahoo’s board since February last year.
Following the completion of Mr. Amoroso’s term at the shareholders’ meeting, the board will comprise 10 members.
In a statement, Mr. Amoroso said he told the board when he took the chairman position that he intended to only serve one year.
Yahoo has been under close scrutiny since Marissa Mayer, a former Google Inc. executive, took over as chief executive in July, as many have watched for her plans to turn around the struggling Internet pioneer.
Last week, Yahoo reported its first-quarter profit rose 36% on the robust performance of China-based e-commerce giant Alibaba Group Holding Ltd., but revenue fell 7% as Yahoo’s core online-advertising business deteriorated.
Shares closed at $25.20 and slipped 0.4% to $25.10 after hours. Through Thursday’s close, the stock is up 63% over the past 12 months.
Source: WSJ
The Chief Financial Officer (CFO) is no longer the only one responsible for budgets and…
AI is no longer in the distant future, discussed only in university classrooms or interactive…
The Tech Panda takes a look at recent mergers and acquisitions within various tech ecosystems…
As robotics progresses towards creating humanoid robot helpers, our tendency is to create them in…
On June 7, 2025, Japan enacted a series of regulations aimed at enabling stronger consumer protections…
Introduction: The Signal Behind Snowflake’s CEO Change In the spring of 2024, Snowflake, a star…
