Yahoo! Taps Interim CEO Amidst Ongoing Chaos

Yahoo had a search of its own today. And its produced a new temporary chief executive officer. On Monday, Yahoo announced that the Board of Directors has named Fred Amoroso as Chairman of the Board of Directors and Ross Levinsohn as interim Chief Executive Officer. The appointments are already in effect. The Company also announced …   Read More

789 0
789 0

Yahoo had a search of its own today. And its produced a new temporary chief executive officer.

On Monday, Yahoo announced that the Board of Directors has named Fred Amoroso as Chairman of the Board of Directors and Ross Levinsohn as interim Chief Executive Officer.

The appointments are already in effect.

The Company also announced that its Board has reached an agreement with Third Point LLC to settle its pending proxy contest related to the Company’s 2012 annual meeting of shareholders.

As interim CEO, Mr. Levinsohn will manage the Company’s day-to-day operations with assistance from Yahoo!’s existing senior leadership team.

As MMW has reported in recent weeks, no shortage of prominent investors have called on Yahoo to dump its CEO Scott Thompson as a result of the company’s ongoing struggles.

“The Board is pleased to announce these changes and the settlement with Third Point, and is confident that they will serve the best interests of our shareholders and further accelerate the substantial advances the Company has made operationally and organizationally since last August. The Board believes in the strength of the Company’s business and assets, and in the opportunities before us, and I am honored to work closely with my fellow directors and Ross to continue to drive Yahoo! forward,” said Fred Amoroso, Chairman of the Yahoo! Board of Directors.

In this article