Icahn to seek Jerry Yang's removal from Yahoo

Jordan Golson — Tue, 03 Jun 2008 12:20:59 -0700

"Activist investor" Carl Icahn wants to remove Yahoo cofounder and CEO Jerry Yang from office if he is successful with his proxy fight to replace the Yahoo board. Icahn, who has picked up millions of YHOO shares personally and has the support of a hefty percentage of shareholders, told the Wall Street Journal that Yahoo management has been disingenuous in its dealings with Microsoft's acquisition offer and has been trying to derail the deal to the detriment of shareholders.

"It's no longer a mystery to me why Microsoft's offer isn't around. How can Yahoo keep saying they're willing to negotiate and sell the company on the one hand, while at the same time they're completely sabotaging the process without telling anyone."

Strong words, but perhaps on the mark: "I am amazed at the lengths that Jerry Yang and the board went to entrench themselves in this situation."

(Photo by Yodel Anecdotal)

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Icahn to seek Jerry Yang's removal from Yahoo