Yahoo's Chairman Resigns

Seth Fiegerman2013-04-25 22:59:49 UTC

Fred Amoroso, Yahoo's chairman of the board, is resigning his position, the company announced late Thursday.

Amoroso took over as Yahoo's chairman in May at the same time that Ross Levinsohn was appointed interim CEO. As chairman, he led the team that investigated Yahoo's former CEO Scott Thompson for fabricating some of his credentials. He also played a part in helping bring Marissa Mayer in from Google to serve as Yahoo's new CEO.

"Fred has been a wonderful chairman for Yahoo! over the past year, and I’m personally grateful for his trust and guidance as I took on the role as Yahoo! CEO," CEO Marissa Mayer said in a statement. “Fred’s mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo!."

In a statement, Amoroso said his intention from the beginning was to serve as chairman for one year in order to help steer Yahoo through a period of transition. Amoroso will stay on the board through June 25.

Yahoo has appointed Maynard Webb, Jr. to serve as interim chairman to replace Amoroso for now. Webb has a pretty impressive background himself, including serving as the CEO of LiveOps and the COO of eBay.

Yahoo's stock was essentially flat in after-hours trading following the news.

Image courtesy of YouTube, IrishTechnology

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