A new statement from Yahoo begins:
SUNNYVALE, Calif.--(BUSINESS WIRE)--Yahoo! Inc.(NASDAQ: YHOO) today announced that the Board of Directors has namedFred Amorosoas Chairman of the Board of Directors andRoss Levinsohnas interim Chief Executive Officer, effective immediately. The Company also announced that its Board has reached an agreement withThird Point LLC("Third Point") to settle its pending proxy contest related to the Company's 2012 annual meeting of shareholders.
Mr. AmorosoreplacesRoy Bostock, who has stepped down from his role as Non-Executive Chairman in order to accelerate the leadership transition for the new Board.Mr. LevinsohnreplacesScott Thompson, former Chief Executive Officer, who has left the Company.
Read the full statement here.