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.

Related Stories
Mediabistro Course

Instagram Marketing

Instagram MarketingStarting October 27, learn how to gain likes and followers on one of the most popular social media platforms! In this course, you'll learn how to develop an Instagram strategy that will make your profile stand out and gain new followers, tell a brand story through photos, and use your Instagram profile to drive your sales and business objectives. Register now!