Yahoo! Inc., a month after hiring Scott Thompson as chief executive officer, added two directors and announced the departure of Chairman Roy Bostock and three others to make the board more independent and spur a turnaround.
Alfred Amoroso, a former International Business Machines Corp. executive who ran Rovi Corp. until last year, and Maynard Webb, EBay Inc.'s ex-chief operating officer, will join the board, Yahoo said today in a statement. Bostock, Gary Wilson, Arthur Kern and Vyomesh Joshi, meanwhile, will not stand for re- election as directors.
Yahoo has faced mounting pressure from shareholders to shake up the company following years of declining sales and market-share losses to Google Inc. and Facebook Inc. Thompson is completing a strategic review of the company, following the ouster of previous CEO Carol Bartz.
Amoroso was CEO of Rovi, a provider of digital home- entertainment products, through the end of 2011. He had been head of Rovi and predecessor companies since July 2005. Amoroso was also CEO of META Group Inc. and CrossWorlds Software Inc. He was also a member of the worldwide management committee at IBM.
Webb has been chairman of Liveops Inc., a provider of call- center technology, since 2006 and served as CEO of the Santa Clara, California-based company from late 2006 through July 2011. Webb also was a senior vice president and chief information officer at Gateway Inc.
Bostock became a Yahoo director in 2003, after a 38-year career in advertising. He sold BCom3 Group, the global ad agency where he was chairman, to Publicis Group in 2002 for $3 billion. Outside the corporate world, he's served as chairman emeritus at the Partnership at Drugfree.org and has donated money to Duke University, his alma mater, where a library is named after him.
While he drew flak at Yahoo, Bostock enjoyed success as chairman of Northwest Airlines, guiding it in 2008 through a $2.75 billion merger with Delta Air Lines Inc.
Shares of Sunnyvale, California-based Yahoo rose less than 1 percent to $15.83 at the close in New York. The stock has dropped 1.9 percent this year.
