Sunnyvale, Calif. - Billionaire financier Carl Icahn will attempt to remove Jerry Yang as the CEO of Yahoo (NASD: YHOO), should he successfully gain control of the company's board, The Wall Street Journal reported on Tuesday. Icahn in an interview accused Yang and Yahoo's board of "completely sabotaging" Microsoft's (NASD: MSFT) recent takeover bid.

At the forefront was an employee severance plan recently adopted by Yahoo which reportedly would have cost Microsoft as much as $2.5 billion to retain Yahoo employees following an acquisition.

"I'm very cynical about many of the boards and CEO's in this country, but even I am amazed at the lengths that Jerry Yang and the board went to entrench themselves in this situation," Icahn told the Journal.

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