Yahoo Chairman and board member Fred Amoroso has resigned from the company.
According to a statement from Amoroso, who was appointed to the role last May, his stint as chairman was only intended to last one year. And so, almost to the day, he is relinquishing his position with the Web portal. He will continue to serve on the company’s board until June, when its annual shareholders meeting takes place. Until then, former LiveOps CEO, eBay COO and current Yahoo board member Maynard Webb Jr. will step in to fill his shoes.
Amoroso’s resignation is a reminder of the upheaval Yahoo has gone through over the past year or so. The chairman began his term during that brief two-month sliver of time when Yahoo operated under interim CEO Ross Levinsohn, who took the helm after then-CEO Scott Thompson resigned. (If you recall, the company was not too pleased about finding out that Thompson padded his resume with a fake college degree.) Thompson himself had only been CEO for four months before he left the company.
Now all eyes have been on Marissa Mayer since she succeeded Levinsohn in July 2012, and so far, it seems the company has been on a track of slow-but-steady growth under the current CEO. Last week, Yahoo announced that Q1 profits rose 36 percent.
On Amoroso’s departure, Mayer released a statement:
Fred has been a wonderful chairman for Yahoo over the past year, and I’m personally grateful for his trust and guidance as I took on the role as Yahoo CEO. Fred’s mentorship and perspective has proved truly valuable to me in my first few months here at Yahoo.
Mayer seems genuinely sad to see Amoroso go, though that doesn’t mean she’ll be taking any down-time to mourn his exit. In fact, we’re quite certain she’ll be very busy, keeping Yahoo on the rails while also balancing her new role as Jawbone board member. Mayer has a reputation for being an aesthete as well as experienced in product design, which always seemed somewhat wasted at Yahoo. It will be interesting to see what, if anything, she brings to the table for the wireless accessory maker.