Jerry Yang

Icahn Wants Yang’s Head On A Platter

Carl Icahn said today that he will seek to oust Jerry Yang as Yahoo’s CEO if he wins his proxy fight bid to control the company’s board. Was this every in doubt?
What seems to have really annoyed Icahn is information released when a Delaware judge unsealed a shareholder suit against Yahoo. The unsealed pleadings revealed that even as Yahoo was claiming to consider the Microsoft bid, it adopted an expensive an employee-severance plan that Icahn is characterizing as an underhanded poison pill meant to scuttle the deal.
“It’s no longer a mystery to me why Microsoft’s offer isn’t around,” Icahn says in an interview with the Wall Street Journal. “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?”
In other news, the Yahoo board is scheduled to meet today.
Icahn Steps Up Yahoo Attack, Seeks Yang’s Ouster as CEO [Wall Street Journal]