Yahoo's Board Screws Up Again?

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:

By Joel West: After turning down Microsoft's (MSFT) $31/share purchase offer four years ago, Yahoo (YHOO) shares quickly gave up 25% of their value. Since the post-crash recovery began three years ago, the NASDAQ index is up 80% while YHOO has gone exactly sideways at $15.

By The 451 Group: Inorganic Growth: Amid all the speculation that Yahoo (YHOO) would sell itself (or not), the search engine operator swung to the other side of the table on Tuesday, announcing the $270m all-cash purchase of interclick (ICLK).

Emerging Money submits: By Tim Seymour It looks like a very high-profile dispute over corporate governance issues is not what momentum-sensitive stocks need when they already look more than a little expensive.

By Alpha Stratus:Dan Loeb founded Third Point in 1995 and is known for his blunt and direct public letters to company executives such as when he wrote an open letter to Yahoo board of directors last December stating (among other things) that "We are disturbed but not surprised by this mismanagement given the history of strategic bungling by Yahoo Board Chairman Roy Bostock and Founder Jerry Yang". Ultimately, he is a value investor but clearly one that's not afraid to take a more activist approach.

by Dan Loeb:Third Point LLC, owners of 5.8% of Yahoo! (YHOO) shares, sent the following letter today to the Yahoo! Board of Directors:May 3, 2012Board of Directors Yahoo! Inc. 701 First Avenue Sunnyvale, CA 94089Dear Board of Directors:

Yahoo (YHOO) is reportedly considering selling its stake in Alibaba Group and Yahoo Japan. According to several media reports, the company would sell part of its stake in China's Alibaba back to the company, as well as it stake in Yahoo Japan, for more than $17 billion. Yahoo's board ousted CEO Carol Bartz in September, ...