Icahn haz Yahoo board resignation
Carl Icahn, the Yahoo investor who attempted a hostile takeover of the company last year, has resigned from the board of directors.
Icahn’s move against Yahoo’s board, especially then-chief executive Jerry Yang, was prompted by the failure of the struggling company to reach an acquisition deal with Microsoft. Last July, Icahn threatened to try to get Yahoo’s entire board replaced with members more open to a Microsoft deal, but instead negotiated to get a seat on the board himself.
Since then, things seem to have gone Icahn’s way — Jerry Yang stepped down as CEO, Yahoo signed a search deal with Microsoft, and new CEO Carol Bartz’s cost-control measures doubled profits compared to last year. Now Icahn says an activist investor is no longer needed on the board, and he can focus on his other investments.
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About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.
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