Yahoo has lost yet another member of its board of directors as chairman Fred Amoroso said he would not be seeking re-election.
Amoroso said that he would be stepping down from the board of directors following the company's next scheduled shareholders meeting on 25 June. The company has appointed Maynard Webb to serve as interim chairman until a new chair can be elected.
"When I took the position as chairman, I told the board that my intention was to serve for one year, in order to help Yahoo during a critical time of transformation," Amoroso said in announcing his departure.
"In that time, Yahoo hired a great new CEO, brought on a fantastic management team, revitalised the employee base, and has begun to release top notch new products. With Marissa [Mayer] at the helm and the leadership team in place, this is a natural time for me to transition off the board, consistent with what I said a year ago."
Yahoo has seen a high turnover amidst its board of directors in recent years. Amoroso took over the top spot last year when Ray Bostock stepped down and took three other board members with him.
The board has dealt with the Scott Thompson CV debacle and lead a CEO search that concluded with the hiring of Mayer from rival Google.
"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," said Mayer.
"Fred's mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo."
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