Yahoo Names Amoroso Chairman, Levinsohn Interim CEO

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.

ABOUT THE AUTHOR

Sahil Kapur is TPM's senior congressional reporter and Supreme Court correspondent. His articles have been published in the Huffington Post, The Guardian and The New Republic. Email him at sahil@talkingpointsmemo.com and follow him on Twitter at @sahilkapur.
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