Carl Icahn Resigns From Yahoo's Board (YHOO)
October 24, 2009 12:13 PM
Carl Icahn, activist investor and one of Yahoo Inc's (NASDAQ: YHOO) more well-known director's, resigned from the Company today. He made news last year for speaking out against Yahoo co-founder Jerry Yang's decision not to sell a lumbering Yahoo to Microsoft Corp. (NASDAQ: MSFT) for $47.5 billion, or $33 per share. Yahoo stands at $17.22 at the close on Friday.
Carl Icahn, activist investor and one of Yahoo Inc's (NASDAQ: YHOO) more well-known director's, resigned from the Company today. He made news last year for speaking out against Yahoo co-founder Jerry Yang's decision not to sell a lumbering Yahoo to Microsoft Corp. (NASDAQ: MSFT) for $47.5 billion, or $33 per share. Yahoo stands at $17.22 at close of Friday.
Icahn's 15 months on Yahoo's Board saw the replacement of Jerry Yang by Carol Bartz as the new CEO of Yahoo, and a ground-breaking 10 year contract with Microsoft to take on search engine behemoth Google (NASDAQ: Goog). Icahn is one of the largest stakeholders in Yahoo with 4.5 percent stake that is currently worth slightly more than $1 billion.
