Today, Yahoo Chairman Roy Bostock announced that he will not be seeking re-election at the company's next shareholders' meeting. Bostock, who has been Yahoo's chairman since 2008, revealed his plans in a lengthy letter to shareholders earlier today, and also stated that three other board members will be leaving the struggling Internet company as well. 

Despite his move, Bostock is still confident in Yahoo and the company's ability to "drive innovation and growth going forward." Alfred Amoroso and Maynard Webb, Jr. have already been named the two newest members of Yahoo's board, but the company is still seeking new members. 

Bostock is best known for his firing of former Yahoo CEO Carol Bartz, who left the company back in September of 2011. Bartz, who was unhappy about the sudden firing, was chief executive of Yahoo during the company's worst decline in history. 

This news comes just weeks after Yahoo hired former PayPal CEO Scott Thompson to be its new CEO, and Yahoo co-founder Jerry Wang left the company.