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Yahoo today announced that Fred Amoroso has resigned as chairman of the board and has appointed Maynar Webb Jr to serve as the interim chairman.
The company also announced that Fred Amoroso has decided not to seek reelection to the board of directors at the upcoming 2013 annual meeting of shareholders. Amoroso will continue to serve on the board through the shareholders meeting on June 25, 2013.
"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 Yahoo CEO Marissa Mayer.
Fred's mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo added Mayer.
"I'm very grateful and proud of the progress Yahoo! has made over the past year," said Amoroso.
"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. In that time, Yahoo hired a great new CEO, brought on a fantastic management team, revitalized the employee base, and has begun to release top notch new products. With Marissa 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," added Amoroso.