Feeds

Yahoo! sets date for Icahn showdown

And Icahn promises to sack founder

High performance access to file storage

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. ®

Combat fraud and increase customer satisfaction

More from The Register

next story
This time it's 'Personal': new Office 365 sub covers just two devices
Redmond also brings Office into Google's back yard
Inside the Hekaton: SQL Server 2014's database engine deconstructed
Nadella's database sqares the circle of cheap memory vs speed
Oh no, Joe: WinPhone users already griping over 8.1 mega-update
Hang on. Which bit of Developer Preview don't you understand?
Microsoft lobs pre-release Windows Phone 8.1 at devs who dare
App makers can load it before anyone else, but if they do they're stuck with it
Half of Twitter's 'active users' are SILENT STALKERS
Nearly 50% have NEVER tweeted a word
Internet-of-stuff startup dumps NoSQL for ... SQL?
NoSQL taste great at first but lacks proper nutrients, says startup cloud whiz
Batten down the hatches, Ubuntu 14.04 LTS due in TWO DAYS
Admins dab straining server brows in advance of Trusty Tahr's long-term support landing
IRS boss on XP migration: 'Classic fix the airplane while you're flying it attempt'
Plus: Condoleezza Rice at Dropbox 'maybe she can find ... weapons of mass destruction'
OpenSSL Heartbleed: Bloody nose for open-source bleeding hearts
Bloke behind the cockup says not enough people are helping crucial crypto project
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.