Icahn wants to skullf*ck Yahoo’s Jerry Yang
Hollywood Newsroom is now Buzz Newsroom! Visit and bookmark our new site. Buzz is bigger and better, including sports, world news, gadgets and the entertainment news that you're used to. Same staff, just more stuff! Why Fark, Drudge and Huffington when you can Buzz!?The billionaire investor Carl C. Icahn stepped up the pressure on Yahoo Tuesday, vowing to remove Jerry Yang, its chief executive, if he succeeds in replacing the company’s board with his own slate of directors.
Mr. Icahn said newly unsealed court documents show that Mr. Yang and Yahoo’s board did not seriously consider a $44.6 billion acquisition offer from Microsoft and implemented a costly employee-retention plan that is a barrier to any acquisition.
“I don’t think anybody ever understood the magnitude of what Yahoo did to do avoid making a deal,” Mr. Icahn said in an interview.
Mr. Icahn had already started a proxy fight to replace Yahoo’s board, which includes Mr. Yang, but had not previously said that he also planned to strip Mr. Yang of his chief executive role.
“In my opinion, you might have to get rid of Jerry and part of the board to bring back Microsoft,” Mr. Icahn said.
- From NYtimes