Yahoo Compromises with Icahn, Repeats Must Buy Mantra

In anticipation of its upcoming annual meeting of stockholders, Yahoo settled with activist investor Carl Icahn after weeks of wrangling over a potential proxy battle

yahoo_goodlogo.gifIn anticipation of its upcoming annual meeting of stockholders, Yahoo settled with activist investor Carl Icahn after weeks of wrangling over a potential proxy battle. According to Yahoo, eight members of its current Board of Directors will stand for re-election, and Icahn agreed to withdraw his nominees for consideration at the meeting. He also said he will vote his Yahoo shares in support of the Board’s nominees.

“Following the 2008 annual meeting, the Yahoo Board will be expanded to 11 members. Carl Icahn will be appointed to the Board and the remaining two seats will be filled by the Board upon the recommendation of the Board’s Nominating and Governance Committee from a list of nine candidates recommended by Mr. Icahn,” according to a company statement.

Yahoo CEO Jerry Yang couldn’t pass up the opportunity to tout the firm’s goal to be the Web’s “starting point” and an advertiser “must buy.”

“This agreement will not only allow Yahoo to put the distraction of the proxy contest behind us, it will allow the Company to continue pursuing its strategy of being the starting point for Internet users and a must buy for advertisers,” he said in the statement.

Is anybody else getting tired of this mantra?

The thing is, Yahoo still has the Microsoft drama that started the Icahn subplot to deal with before it can truly focus on becoming the “starting point” and “must buy.”

Subscribe to get your daily business insights

Whitepapers

US Mobile Streaming Behavior
Whitepaper | Mobile

US Mobile Streaming Behavior

5y

US Mobile Streaming Behavior

Streaming has become a staple of US media-viewing habits. Streaming video, however, still comes with a variety of pesky frustrations that viewers are ...

View resource
Winning the Data Game: Digital Analytics Tactics for Media Groups
Whitepaper | Analyzing Customer Data

Winning the Data Game: Digital Analytics Tactics for Media Groups

5y

Winning the Data Game: Digital Analytics Tactics f...

Data is the lifeblood of so many companies today. You need more of it, all of which at higher quality, and all the meanwhile being compliant with data...

View resource
Learning to win the talent war: how digital marketing can develop its people
Whitepaper | Digital Marketing

Learning to win the talent war: how digital marketing can develop its peopl...

2y

Learning to win the talent war: how digital market...

This report documents the findings of a Fireside chat held by ClickZ in the first quarter of 2022. It provides expert insight on how companies can ret...

View resource
Engagement To Empowerment - Winning in Today's Experience Economy
Report | Digital Transformation

Engagement To Empowerment - Winning in Today's Experience Economy

1m

Engagement To Empowerment - Winning in Today's Exp...

Customers decide fast, influenced by only 2.5 touchpoints – globally! Make sure your brand shines in those critical moments. Read More...

View resource