Feeds

Yahoo! sets date for Icahn showdown

And Icahn promises to sack founder

Build a business case: developing custom apps

Yahoo! will hold its annual general meeting and shareholder vote on Carl Icahn's proposal to replace the board of directors on 1 August.

Icahn confirmed yesterday that he will sack the company's co-founder Jerry Yang if he wins the vote. He said Yahoo! needed to get rid of Yang and at least part of the board of directors in order to show Microsoft it was serious about any deal.

Icahn's proxy plan always included replacing the entire board of directors, including Yang, but this is the first time the company co-founder has been singled out. Documents released yesterday by the Delaware Chancery court revealed Yang's apparent distaste for any Microsoft takeover.

Icahn will get his chance to win over shareholders at the meeting 1 August. There are two other shareholder proposals - one to replace the entire board and one to replace some directors.

The meeting has been delayed by Yahoo's board of directors. This has been widely interpreted as an attempt to buy more time in order to get some kind of deal in place with Microsoft, or another company. The existing management will badly want something positive to present to shareholders instead of Icahn's blitzkreig.

The make-or-break meeting will be held in San Jose, California. ®

5 things you didn’t know about cloud backup

More from The Register

next story
PEAK LANDFILL: Why tablet gloom is good news for Windows users
Sinofsky's hybrid strategy looks dafter than ever
Leaked Windows Phone 8.1 Update specs tease details of Nokia's next mobes
New screen sizes, dual SIMs, voice over LTE, and more
Fiendishly complex password app extension ships for iOS 8
Just slip it in, won't hurt a bit, 1Password makers urge devs
Mozilla keeps its Beard, hopes anti-gay marriage troubles are now over
Plenty on new CEO's todo list – starting with Firefox's slipping grasp
Apple: We'll unleash OS X Yosemite beta on the MASSES on 24 July
Starting today, regular fanbois will be guinea pigs, it tells Reg
Another day, another Firefox: Version 31 is upon us ALREADY
Web devs, Mozilla really wants you to like this one
Secure microkernel that uses maths to be 'bug free' goes open source
Hacker-repelling, drone-protecting code will soon be yours to tweak as you see fit
Cloudy CoreOS Linux distro declares itself production-ready
Lightweight, container-happy Linux gets first Stable release
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?