Amoroso will be replaced in the chairman role by director Maynard Webb on an interim basis until the company's annual shareholder meeting on June 25. Amoroso used to work for Big Blue and will remain on the board of directors until the meeting.
In a press statement Amoroso said he had informed the Yahoo board when he became chairman in May 2012 that he intended to serve only one year "in order to help Yahoo during a critical time of transformation." Since then Yahoo has hired former Google executive Marissa Mayer as its chief executive, revamped its management team and released new products.
While there is nothing untoward in a chairman of a big company doing what he said he was going to do. However Yahoo would be happier if it had a little more stability.