/// Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement

May 13, 2012  |  All Things Digital


Here you go on what I reported earlier today on Yahoo CEO Scott Thompson stepping down, being replaced by current global media head Ross Levinsohn on an interim basis, the naming of board member Fred Amoroso as chairman and director changes related to the settling of its proxy fight with Third Point’s Daniel Loeb. The company is confirming the whole thing in an official press release. The news brings to a close Yahoo’s latest controversy, involving a fake computer science degree that somehow was on Thompson’s bio and also in official filings of the Silicon Valley Internet giant. As you can see, the statements have almost zero to say about Thompson. Sources said that the board reached a settlement with him — I am trying to find out more, natch — after more and more problematic issues cropped up in recent days. But for now, I am going to buy myself some Mother’s Day chocolates and find my kids: YAHOO! NAMES FRED AMOROSO CHAIRMAN AND APPOINTS ROSS LEVINSOHN INTERIM CEO BOARD ANNOUNCES SETTLEMENT WITH THIRD POINT LLC Sunnyvale, Calif. — May 13, 2011 – Yahoo! Inc. (NASDAQ: YHOO) today 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, effective immediately. The Company also announced that its Board has reached an agreement with Third Point LLC (“Third Point”) to settle its pending proxy contest related to the Company’s 2012 annual meeting of shareholders. Mr. Amoroso replaces Roy Bostock, who has stepped down from his role as Non-Executive Chairman in order to accelerate the leadership transition for the new Board. Mr. Levinsohn replaces Scott Thompson, former Chief Executive Officer, who has left the Company

Originally posted here:
Yahoo Officially Confirms ATD Report on CEO Changes and Proxy Settlement



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