Friday, April 26, 2013

YHOO: Yahoo (YHOO) -0.6% following news of Fred...

9:26 AM Yahoo (YHOO) -0.6% following news of Fred Amoroso's resignation. BI's sources lead it to think Amoroso's support for Ross Levinsohn and his perceived backing of the Facebook suit contributed to his departure. However, Amoroso claims he only intended to be chairman for a year. Regardless, his resignation is expected to strengthen Marissa Mayer's ability to remake Yahoo (though from the looks of things, Amoroso didn't seem to be a huge stumbling block), and given Yahoo hasn't yet named a permanent chairman, some think Mayer is in line to get the job. Read comments

YHOO price at time of publication: $25.20. Check YHOO price now »

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