Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Y > Headlines for Yahoo! Inc. > News item |
Icahn says goodbye to Yahoo!'s board of directors, praises CEO
By Lisa Kerner
Charlotte, N.C., Oct. 23 - Carl Icahn announced his resignation from the board of directors of Yahoo! Inc. on Friday.
According to Icahn, Yahoo!'s board was in a state of turmoil when he first joined, but now there is no need for an activist director at the company.
In a letter to Yahoo!'s board of directors, Icahn said he is proud to have played a role in bringing Carol Bartz onboard as the Sunnyvale, Calif., internet company's chief executive officer and in consummating the search deal with Redmond, Wash., software company Microsoft Corp.
"Carol is doing a great job and I believe the Microsoft transaction will provide great long term benefits, the potential of which many still do not understand," Icahn said in the letter.
Icahn also said in the letter that he does not currently have "the time that is necessary to devote to the business and affairs of Yahoo! required if a board member is to fulfill his fiduciary duties to the shareholders."
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.