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Yahoo! loses half its board members

Four board members follow Yang out the door at Yahoo!

Yahoo! loses half its board members
Yahoo! is replacing the four board members and also looking for deals on its stake in Alibaba and Yahoo! Japan.

Yahoo! has announced sweeping changes to its board, with four board members including company chairman Roy Bostock, stepping down in June.

The cuts to the board, which follow on from the resignation of Yahoo! co-founder Jerry Yang in January, and the firing of CEO Carol Bartz in September last year.

The move will mean that more than half the board will change by the company's annual general meeting.

The four resigning board members are Bostock, Vyomesh Joshi, Arthur Kern and Gary Wilson. They will be replaced by Alfred Amoroso, a former CEO of META Group and a member of the world-wide management committee of IBM Corporation; and Maynard Webb Jnr, who was previously COO of eBay and CIO of Gateway.

Yahoo! said that it is still looking for additional independent directors, and also noted that it is in "active discussions with our partners in Asia regarding the possibility of restructuring our holdings in Alibaba Group and Yahoo! Japan".

A company statement from Roy Bostock said: "We believe that this reconfigured board, with a fresh set of perspectives and diverse set of skills, will enable the Company to move forward even more aggressively.... We all take pride in the fact that we are positioning Yahoo! for success in the future. Yahoo! is an incredibly strong brand with formidable assets. I have every expectation that under Scott's leadership, working together with the reconstituted board, the Company will thrive for many years to come."

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