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Yahoo Settles with Icahn - Yang Keeps Job; Icahn to Join Board

Jerry Yang threw Carl Icahn a bone today. So Carl Icahn called the dogs off.

Yahoo! Inc. (YHOO),announced today that it has agreed to settle with Carl Icahn to avoid a proxy contest related to the Company's 2008 annual meeting of stockholders.

* Jerry Yang will remain CEO. * Carl Icahn will join the board. * Eight Board members will face re-election.

Under the terms of the settlement agreement, eight members of Yahoo!'s current Board of Directors will stand for re-election at the 2008 annual meeting: Roy Bostock, Ronald Burkle, Eric Hippeau, Vyomesh Joshi, Arthur Kern, Mary Agnes Wilderotter, Gary Wilson and Jerry Yang. Robert Kotick has decided not to stand for re-election to the Board at the 2008 annual meeting.

After the 2008 annual meeting, the Yahoo! Board will increase to 11 members. Carl Icahn will be appointed to the Board and the remaining two [...]
URL : http://feeds.searchenginewatch.com/~r/sewblog/~3/341518722/080721-082126
Date : 2008-07-21 15:21:26
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Author : Search Engine Watch Blog

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