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Yahoo chairman Bostock to resign alongside three board members

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By The Drum Team, Editorial

February 8, 2012 | 2 min read

The board of Yahoo is set for another shakeup with the imminent departure of the company’s chairman Roy Bostock and three other board members.

Bostock is to step aside, just five months after the resignation of chief executive Carol Bartz, who departed having been unable to compete with search rival Google.

She was replaced by Paypal’s Scott Thompson, who was the fourth chief executive at the company in five years.

Also resigning are Vyomesh Joshi, Arthur Kern and Gary Wilson.

The latest resignations from the board follow that of co-founder Jerry Yang last month.

A letter to shareholders from Bostock, who has led the company since 2008, read: "We have engaged with potential investors and reviewed proposals concerning an equity investment in the company, although at this time there have not been any proposals which have been deemed by the committee to be attractive to our shareholders,"

"We are also in active discussions with our partners in Asia regarding the possibility of restructuring our holdings in Alibaba Group and Yahoo Japan. The complexity and unique nature of these transactions is significant," the letter said.

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