Home › DMW Daily › October 26, 2009

Investor Carl Icahn Resigns from Yahoo's Board

Authored by Mark Hefflinger on October 26, 2009 - 10:47am.
San Francisco - Investor Carl Icahn on Friday resigned his seat on Yahoo's (NASD: YHOO) board of directors, the Associated Press reported.

The activist investor joined Yahoo's board just over a year ago, and vocally criticized then-CEO Jerry Yang while also pushing for Yahoo to accept a $47.5 billion takeover bid from Microsoft.

More recently, he applauded the company's hiring of Carol Bartz as chief executive, and its proposed search results deal with Microsoft.

"I don't believe that it is necessary at this time to have an activist on the board of Yahoo and currently my attention is focused on other matters," Icahn wrote in his resignation letter.

Icahn still holds a 4.5% stake in Yahoo, valued at about $1.8 billion.

 

Related Links:
http://snipurl.com/ssyob (AP)

Published in DMW Daily, October 26, 2009
tags: Moves | Yahoo | Carl Icahn | Jerry Yang | Carol Bartz |



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