Yahoo! Inc.’s board shakeup that led to the departure of Chairman Roy Bostock adds to pressure on the company to sell Asian assets valued at more than $10 billion and reverse the sales slump that’s plagued management since 2008.
Yahoo! Inc., a month after hiring Scott Thompson as chief executive officer, added two directors and announced the departure of Chairman Roy Bostock and three others in a board shakeup aimed at spurring a turnaround.
Roy Bostock , the Morgan Stanley director whose re-election was opposed by proxy advisory groups, received the highest percentage of negative shareholder votes among directors elected at the annual meeting.
Yahoo! Inc. hired Scott Thompson as chief executive officer, asking the former president of EBay Inc.’s PayPal unit to complete a strategic review and reverse a growth slump that led to the September ouster of Carol Bartz.