Yahoo suffers another setback with CEO's dismissal

Yahoo says four board members, including its chairman Roy Bostock, will not seek re-election amid struggles at the company.

Yahoo! chairman Roy Bostock announced Tuesday he was stepping down from the board of the struggling Internet company along with three other directors.Bostock, in a letter to shareholders, also said Yahoo! was in "active discussions" with its partners in Asia on restructuring its holdings in the Alibaba Group and Yahoo! Japan.Bostock said he had decided not to stand for re-election at Yahoo!'s next shareholders meeting, along with board members Vyomesh Joshi, Arthur Kern and Gary Wilson.

Yahoo says four board members including its chairman will not seek re-election amid struggles at the company.

Bottom Line: To add insult to injury, Yahoo shares have been rallying since news of Carol Bartz's abrupt dismissal as CEO of late Tuesday.

Yahoo just announced that chairman Fred Amoroso will step down in June. We've communicated with three Yahoo sources since the news broke. Given what they told us, we think this why Amoroso is out:

The German chancellor's coalition of Christian Democrats and Free Democrats suffered a setback in a regional election, casting doubt about her ability to solve Europe's currency crisis.

Fired Yahoo! chief executive Carol Bartz has resigned as a director of the company's board, whose members she described last week as "doofuses."Yahoo!, in a filing with the US Securities and Exchange Commission (SEC) on Monday, said Bartz had resigned from the Yahoo! board of directors on Friday.Her resignation came a day after Bartz blasted the board of the Internet company in an interview published in Fortune magazine.In the interview, Bartz said Yahoo!'s board wants revenue growth "even though they were told that we would not have revenue growth until 2012."