bostock

Yahoo Chairman Roy Bostock to step down

Yahoo's undergoing more changes at its top, with a reshuffling of its board of directors.

In a letter to shareholders today, Yahoo's chairman of the board, Roy Bostock, said that along with fellow board members Vyomesh Joshi, Arthur Kern, and Gary Wilsonhe, he would not seek re-election this year.

Bostock added that to help fill the gap, the board has hired Alfred Amoroso and Maynard Webb Jr. to serve as independent directors. Amoroso was previously the president and CEO of Rovi. Webb previously served as CEO and currently serves as chairman of LiveOps.

Bostock's plans for announcing … Read more

Yahoo announces Yang's resignation (statement)

Here's the full text of Yahoo's press release announcing co-founder Jerry Yang's resignation:

SUNNYVALE, Calif.--Yahoo! Inc., the premier digital media company, today announced that Jerry Yang has resigned from its Board of Directors and all other positions with the company, effective today. In addition, Yang resigned from the Boards of Yahoo Japan Corporation and Alibaba Group Holding Limited, effective today.

In a letter to the Yahoo! Board Chairman Roy Bostock, Yang wrote:

My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, … Read more

Major Yahoo shareholder calls out board on 'failures'

Investment adviser Third Point has acquired 5.1 percent ownership in Yahoo, and now firm CEO Daniel Loeb has decided to express his extreme displeasure with the Internet company's board of directors.

In a letter sent to Yahoo's board of directors and published today by the Securities and Exchange Commission, Loeb, a well-known hedge fund manager, announced that his firm used some of the $8 billion in cash it manages to acquire its interest in Yahoo. With 5.1 percent ownership, the firm is now the third-largest outside shareholder in Yahoo.

After announcing the holding, Loeb quickly took … Read more

Jerry and Sue: A MicroHoo! fairy tale

Every kid knows the fairy tale of Hansel and Gretel, but I bet you've never heard the story of Jerry and Sue, right? Well, read on.

Not so long ago, in merry old Silicon Valley, lived a family named Yahoo. When hard times and famine hit, the father - an old advertising executive named Bostock - led two of his children - Jerry and Sue - into the forest.

Why did Bostock do that to his kids? Some say he did it so he'd have fewer mouths to feed, but nobody knows his motives for sure.

Lost in the forest, Jerry and Sue finally came upon a huge house made of gingerbread. The house was called Microsoft, and inside lived a witch named Ballmer. Some say the witch was evil, but he was more likely just desperate to reinvigorate his ancient, slumbering home with some youth.… Read more

Three questions for Roy Bostock

To Roy Bostock Chairman of the board, Yahoo

Dear Roy,

Wondering whether you've ever read anything by Pierre Ambroise Fran?ois Choderlos de Laclos (that's a mouthful!). He was the French author of the 18th century epistolary novel Les Liaisons Dangereuses. After watching all the note-swapping between you and Carl Icahn, I have to confess that you guys sure have the hang of it--even though the "Dear Roy, Dear Carl" salutations are awfully phony. No doubt you two would prefer shotguns at 20 paces. Meanwhile, if you can break away from your writing desk, I'd … Read more