Investor Carl Icahn quits Yahoo board

He once called Jerry Yang and the Yahoo board "self-destructive doomsday machines"

Carl Icahn, the activist investor who pushed for some of the big changes that have taken place at Yahoo, announced his resignation Friday from the company's board of directors.

In a letter to the board that was also released to reporters, Icahn said he no longer sees a need for an activist investor at Yahoo. He praised the work of Yahoo CEO Carol Bartz and said the search deal Yahoo struck with Microsoft would "provide great long-term benefits, the potential of which many still do not understand."

Icahn was one of Yahoo's most vocal critics last year, when he pushed for the removal of Jerry Yang as CEO and for Yahoo to accept an unsolicited acquisition offer from Microsoft. He accused Yang and the board of acting against the interests of Yahoo's shareholders, at one point referring to them as "self-destructive doomsday machines."

Yahoo has since replaced Yang with Bartz and entered a 10-year search and advertising deal with Microsoft. Part of the deal calls for Yahoo to use Microsoft's Bing search engine to power Yahoo's results.

"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," Icahn wrote in the letter.

He said he was "proud to have played a role in both these decisions."

Icahn joined the board last year after threatening to launch a proxy fight to replace the entire board and remove Yang as CEO. Ultimately, he agreed to drop the proxy battle in exchange for a board seat for himself and two other people he handpicked.

Yahoo said Icahn had been an important member of its board who has "helped us through some significant transitions."

It said it was grateful for his "active role shaping the future of Yahoo."

Join the PC World newsletter!

Error: Please check your email address.

Tags YahooMicrosoftMicrohooCarl Icahn

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

James Niccolai

IDG News Service
Show Comments

Most Popular Reviews

Latest News Articles

Resources

PCW Evaluation Team

Azadeh Williams

HP OfficeJet Pro 8730

A smarter way to print for busy small business owners, combining speedy printing with scanning and copying, making it easier to produce high quality documents and images at a touch of a button.

Andrew Grant

HP OfficeJet Pro 8730

I've had a multifunction printer in the office going on 10 years now. It was a neat bit of kit back in the day -- print, copy, scan, fax -- when printing over WiFi felt a bit like magic. It’s seen better days though and an upgrade’s well overdue. This HP OfficeJet Pro 8730 looks like it ticks all the same boxes: print, copy, scan, and fax. (Really? Does anyone fax anything any more? I guess it's good to know the facility’s there, just in case.) Printing over WiFi is more-or- less standard these days.

Ed Dawson

HP OfficeJet Pro 8730

As a freelance writer who is always on the go, I like my technology to be both efficient and effective so I can do my job well. The HP OfficeJet Pro 8730 Inkjet Printer ticks all the boxes in terms of form factor, performance and user interface.

Michael Hargreaves

Windows 10 for Business / Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Aysha Strobbe

Windows 10 / HP Spectre x360

Ultimately, I think the Windows 10 environment is excellent for me as it caters for so many different uses. The inclusion of the Xbox app is also great for when you need some downtime too!

Mark Escubio

Windows 10 / Lenovo Yoga 910

For me, the Xbox Play Anywhere is a great new feature as it allows you to play your current Xbox games with higher resolutions and better graphics without forking out extra cash for another copy. Although available titles are still scarce, but I’m sure it will grow in time.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?