Yahoo chair follows trail of bosses out the door
YAHOO chairman Roy Bostock and three other directors last night said they would step down as the struggling company ploughs ahead with its overhaul, including a possible disposal of its stakes in Alibaba Group and Yahoo Japan.
The group last night said it has appointed IBM veteran Alfred Amoroso and ex-eBay chief operating officer Maynard Webb as independent directors.
Bostock and fellow board members Vyomesh Joshi, Gary Wilson and Arthur Kern will not stand for re-election at the next shareholders’ meeting, the chairman said in a letter to shareholders released yesterday.
Their departures follow that of founder Jerry Yang, who was blamed for turning down a rich acquisition offer by Microsoft Corp near the height of Yahoo’s valuation.
Chief executive Carol Bartz left abruptly last September.