Yahoo Chairman Exits

February 16th, 2012 by James

Yahoo Chairman ExitsRoy Bostock, the chairman of Yahoo Inc, and three other directors will step down as the struggling company ploughs ahead with an internal overhaul. Yahoo is presently including discussions on dealing with its stakes in Alibaba Group of China and Yahoo Japan.

Yahoo appointed former Rovi Corp CEO and International Business Machines Corp veteran Alfred Amoroso and ex-eBay COO Maynard Webb as independent directors, according to a company announcement.

“We have engaged with potential investors and reviewed proposals concerning an equity investment in the company, although at this time there have not been any proposals which have been deemed by the committee to be attractive to our shareholders,” Bostock said in a letter to shareholders released on Tuesday.

“We are also in active discussions with our partners in Asia regarding the possibility of restructuring our holdings in Alibaba Group and Yahoo Japan. The complexity and unique nature of these transactions is significant,” the letter said.

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