Source: USA TODAY

SAN FRANCISCO — Yahoo’s makeover continues under CEO Marissa Mayer.

The company said Fred Amoroso has declined to seek re-election to the board of directors at its annual shareholder’s meeting.

While Amoroso will serve on the board through the shareholders meeting, he has stepped down from the chairman spot.

Yahoo’s board tapped Maynard Webb to serve as interim chairman until it finds a permanent replacement.

Share of Yahoo rose 1.8% to $25.20 in regular trading hours.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Source: USA TODAY

SAN FRANCISCO — It’s not often that Silicon Valley CEOs make big promises and then deliver right away.

Yahoo CEO Marissa Mayer has done just that. The rejuvenated Internet company today unveils Yahoo Mail for iPad and Android tablets, along with a new weather app for iPhones, bringing Mayer’s earnings report promise on Tuesday of “beautiful products” to a quick reality.

At first blush, this may seem like a ho-hum affair that’s late in coming. It’s not.

Yahoo Mail on tablets will have a magazine-like presentation, allowing people to swipe through emails. Think Flipboard, the app that turns your digital world into a magazine for tablets.

More importantly for Yahoo, it may help the company serve up a more compelling format for display advertising. The rebooted Internet pioneer on Tuesday reported profit growth but an 11% decline in display advertising revenue from a year ago.

In Yahoo Mail on tablets, people’s images and messages replace folders, toolbars and buttons for full-screen minimalist layouts. Users will also have the option to see a more conventional view of the email in-box.

Yahoo is calling it Unbox Your Mail. “You will have a hard time going back to a normal mail experience,” says Adam Cahan, senior vice president of mobile at Yahoo.

That familiar weather app to most smartphones is also getting a new take. Yahoo is pairing Flickr photos of those cities that you select to monitor with those weather conditions. Yahoo says it’s like flipping through a stack of postcards to see the weather.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.

Source: USA TODAY

SAN FRANCISCO — Shares of Yahoo took a roller coaster ride in after-hours trading following middling results from the Internet pioneer.

Yahoo reported net income of $224 million on revenue of $1.1 billion in the first quarter. Wall Street had expected Yahoo to report net income of $280.5 million on revenue of $1.1 billion, according to the survey of forecasts from Thomson Reuters.

Shares of Yahoo initially shot up more than 4% in after-hours trading following the company’s financial report. Shares settled lower, down 4.75% to $22.66.

Yahoo faces headwinds. Yahoo’s share of U.S. display advertising revenue is expected to shrink to 7.7% this year from 9% in 2012. Rivals Google and Facebook are expected to expand U.S. display ad revenue to 17.6% and 15.5%, respectively, according to researcher eMarketer.

Despite gains, Yahoo’s share of U.S. search-advertising revenue is also expected to wane, slipping to 6.2% this year from 6.5% in 2012, as Google and Microsoft make advances, according to eMarketer.

Copyright © 2013 USA TODAY, a division of Gannett Co. Inc.