Icahn Joins Yahoo Board, Bakes Cupcakes for Other Members

Yahoo_Image_Reuters.jpg

Yahoo’s board has confirmed billionaire investor Carl Icahn as a director, as Robert Kotick resigned as part of a previously announced deal, Reuters is reporting. The move went exactly as planned—and sans fireworks—given that Icahn was given a board seat in order to avoid a proxy battle over Microsoft’s failed attempt to buy out the venerable Internet portal.

The report said that analysts expect Icahn and the new directors to pressure the board to consider a variety of strategic options for the company, including another shot at a potential transaction with Microsoft, as well as disposal of Yahoo’s substantial Asian assets. Icahn still owns 5% of the company’s outstanding shares.

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