http://online.wsj.com/article/SB10001424052970204136404577209440958658740.html?mod=WSJ_Tech_LEADTop
About time.
Bostock and three other directors will be stepping down sometime this year. The sooner, the better.
The story now is that Bostock and the three other directors will not seek re-election on the board. Therefore rather than simply resigning now, the 4 board members will simply fade away.
The board has already brought on board two new board members; Alfred Amoroso, former chief executive of Rovi Corp., which creates digital guides for TV listings, and Maynard Webb Jr., former chief operating officer of auction site eBay Inc. and currently the chairman of call-center provider LiveOps Inc.
These new board members might actually help the company. Yahoo has already stated that it will be seeking additional new board members.
It makes sense that Bostock's successor be one of the new board members. The old guard cannot take the position of Chairman of the Board; the message an action like that will send to Yahoo shareholders would be bad. Therefore the new Chairman must be one of the new board members.
Since 2008, Yahoo has been the poster child for ZERO Corporate Governance and ZERO Accountability to Shareholders.
It is now apparent that the Yahoo board is now taking its shareholders’ demands seriously.
Now the question remains: What is Yahoo’s turnaround plan? Getting rid of dead wood and brining on board new people is a nice thing but it is not enough.
What is Yahoo's turnaround plan?