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The corporation - once a Web powerhouse but now agonizing over a range of options to revive flagging growth - on Tuesday said it appointed former Rovi Corp CEO and International Business Machines Corp veteran Alfred Amoroso and ex-eBay COO Maynard Webb as independent directors.
Yahoo's board has come under fire from investors impatient with the company's persistent inability to effect a turnaround, and frustrated with the apparent indecisiveness of stakeholders over how to handle its investments in Alibaba and other prized Asian assets.
"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," Bostock said in a letter to shareholders released on Tuesday.
"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.
Bostock, who joined Yahoo's board in 2003, was a lightning rod for Yahoo shareholders upset about the company's fall from grace and the string of struggles that defined the company during his tenure. Shareholders blamed Bostock, along with Yahoo co-founder Jerry Yang, for turning down a rich acquisition offer by Microsoft Corpin 2008 near the height of Yahoo's valuation.
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