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Yahoo board chairman, three others step down in big shuffle

updated 06:00 pm EST, Tue February 7, 2012

Yahoo sees director overhaul with new CEO

Yahoo on Tuesday orchestrated one of its biggest board shifts in recent memory. Long-serving chairman Roy Bostock said he wouldn't stand for reelection at the next shareholder meeting, effectively resigning this year. Three others, Vyomesh Joshi, Arthur Kern, and Gary Wilson, were also stepping down.

No immediate replacement had been picked for Bostock, but two new board members, ex-Rovi chief Fred Amoroso and one-time eBay COO Maynard Webb, were coming to Yahoo.

While there wasn't a direct public explanation, tips to AllThingsD had Yahoo once again taking the step to head off activist investors. Daniel Loeb has been pushing for a board overhaul and had his own candidates; the new choices both partly grant his wish for change and prevent him from instituting members with a specific agenda.

Much of the activity is coming just after company co-founder Jerry Yang left as new CEO Scott Thompson came in. The executive swap has been seen as presenting an opportunity for change after years where a static board has been blamed for much of Yahoo's inaction.

by MacNN Staff




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