Yahoo Chairman Roy Bostock, 3 directors step down
Close on the heels of the resignation of Yahoo's founder Jerry Yang from the company's board, and the January appointment of ex-PayPal/eBay executive Scott Thompson as the CEO, there has been yet another Yahoo board shakeup which has led to the departure of the company's chairman Roy Bostock.
According to reports, Yahoo board chairman Roy Bostock has agreed to set down from his role at the next meeting of the shareholders. Along with Bostock, three more directors - Vyomesh Joshi, Arthur Kern, and Gary Wilson - have also decided to call it quits at the company.
While the replacement for Bostock is yet to be announced, ex-Rovi CEO Alfred Amoroso and Maynard Webb, Jr. - earlier from LiveOps, eBay and Gateway - have been elected as two new directors by the Yahoo board. In addition to these two replacements for the outgoing board directors, two more board members will be named shortly.
Yahoo's recent announcement of the overhaul implies that Bostock and the three departing directors will not stand for re-election at this year's shareholder meeting of the company; and since all the directors would have joined in the last two years, they are likely to follow a more aggressive policy in terms of overhauling Yahoo.
Noting that the Yahoo board may try to sell the Asian investments in order to please the investors, analyst Herman Leung - of Susquehanna International Group in San Francisco - said: "With Jerry gone and now Bostock gone, it's kind of a changing of regime in its entirety -- something needs to happen with the Asian assets."