MUMBAI: Internet major Yahoo! chairman Fred Amoroso has resigned effective immediately.

Amoroso will be replaced in the chairman role by director Maynard Webb Jr. on an interim basis until the company‘s annual shareholder meeting on 25 June. Amoroso and Webb joined Yahoo‘s board 14 months ago when four longtime directors stepped down under shareholder pressure.

Amoroso said that he had informed the Yahoo board when he became chairman in May 2012 that he intended to serve only one year in order to help Yahoo during a critical time of transformation.

"I‘m very grateful and proud of the progress Yahoo has made. Yahoo hired a great new CEO, brought on a fantastic management team, revitalised the employee base, and has begun to release top-notch new products." Amoroso concluded.