Feeds

Carl! Icahn! quits! Yahoo!

Loses! millions! of! dollars!

Top 5 reasons to deploy VMware with Tegile

Carl Icahn has resigned from Yahoo's board of directors after a stint that saw him fail to flog the company to Microsoft and the web firm's shareprice continue to slide.

The troublemaking investor said there was no longer any need for Yahoo! to have an activist director on the board. He said he was focussed on other matters so did not have the time to devote to the job.

Icahn said, according to Reuters: "When I joined the Board, the company was in a state of turmoil. In the period since then, we have all worked together to achieve much for the Company, most notably bringing Carol on to be the CEO and then consummating the search deal with Microsoft."

He said chief executive Carol Bartz was doing a great job and the deal with Microsoft "will provide great long term benefits, the potential of which many still do not understand".

Icahn began building his stake when Yahoo! shares were at $25 - they are currently trading at just over $17.

Although he has been reducing his stake in recent months, the adventure must still have cost him dearly.

Icahn began battling Yahoo's management when they rejected a takeover bid from Microsoft. He built a five per cent stake in the firm and proposed an alternative board of directors to run the firm.

The long-running battle with founder Jerry Yang ended in July 2008 when Icahn was given a seat on the board, but he never succeeded in selling the company to Microsoft. ®

Beginner's guide to SSL certificates

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.