Yahoo (YHOO $15.45 +0.27) announced that its Board has named Fred Amoroso as Chairman of the Board of Directors and Ross Levinsohn as interim Chief Executive Officer, effective immediately. The company also announced that its Board has reached an agreement with Third Point to settle its pending proxy contest related to the co's 2012 annual meeting of shareholders.
Amoroso replaces Roy Bostock, who has stepped down from his role as Non-Executive Chairman in order to accelerate the leadership transition for the new Board. Levinsohn replaces Scott Thompson, former CEO, who has left the co. Under the Board's settlement agreement with Third Point, three Third Point nominees - Daniel Loeb, Harry Wilson, and Michael Wolf - will join the Yahoo! Board, effective May 16, 2012.






