A look at executive, board changes at Yahoo

A company in turmoil: a look at executive, board changes at Yahoo

Associated Press

Yahoo went through three CEOs, including an interim chief, and replaced most of its board members in 2012. Its chairman is now leaving. Here's a look at the changes:

Jan. 4, 2012: Yahoo names Scott Thompson, president of eBay Inc.'s PayPal division, as Yahoo's new CEO, its fourth in less than five years.

Jan. 17: Co-founder Jerry Yang leaves the company as he steps down from the board of directors. He had been on Yahoo's board since its 1995 inception.

Feb. 7: Chairman Roy Bostock and three other longtime board members say they won't seek re-election to give Thompson a fresh slate of independent directors. Many Yahoo shareholders had been clamoring for Bostock to step down since the company balked at Microsoft's 2008 takeover offer.

March 25: Yahoo announces three new board members, gearing up for a proxy fight with one of its largest shareholders, Third Point LLC, which is trying to win four seats on Yahoo's board.

March 28: Hedge fund manager Daniel Loeb, who controls a 5.8 percent stake in the company through his Third Point fund, blasts Yahoo's board appointments as "illogical."

May 3: Loeb questions Thompson's qualifications and integrity after exposing a misrepresentation about the executive's education. Yahoo confirms that Thompson doesn't have a bachelor's degree in computer science from Stonehill College, as Yahoo previously stated. Thompson only has an accounting degree from Stonehill. Yahoo blames an "inadvertent error" and says its board will investigate.

May 8: Patti Hart, who led the committee that hired Thompson, surrenders her board seat, becoming the first casualty in the dust-up. Hart says she decided to not to seek re-election to Yahoo's board to focus on her job as CEO at gambling machine maker International Game Technology. Yahoo also says its probe will be handled by a committee of three directors who joined the company's board after Thompson was hired.

May 13: Thompson is out at Yahoo. Ross Levinsohn, who oversees Yahoo's media and advertising services worldwide, is named interim CEO.

June 18: Yahoo says Michael Barrett, a former colleague of Levinsohn, will run Yahoo's advertising sales team as chief revenue officer.

July 16: Yahoo names longtime Google executive Marissa Mayer as its fifth CEO in as many years.

July 30: Yahoo announces Levinsohn is leaving the company.

Sept. 25: Software industry veteran Ken Goldman is named chief financial officer, replacing Morse, as Mayer moves swiftly to build her senior management team.

Dec. 13: Yahoo says it's adding a new director, PayPal co-founder Max Levchin, Intuit CEO Brad Smith and Weather Channel CEO David Kenney step down from the board. The changes leave just one board member, former accounting executive Sue James, who didn't join in 2012.

April 25, 2013: Yahoo says Chairman Alfred Amoroso will become the eighth director to leave since early 2012. He will leave the board on June 25 at Yahoo's annual shareholders meeting. Amoroso is giving up the chairmanship immediately. Maynard Webb Jr. will handle the duties on an interim basis. Amoroso became chairman 11 months earlier after Thompson left. Amoroso says he had intended to serve as chairman for only a year.

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