Yahoo Director to Spend More Time With Friends and Family, Less With Icahn and Proxy War
Looks like billionaire investor Carl Icahn will only need nine of the 10 dissident directors he’d hoped to appoint to Yahoo’s board. Longtime Yahoo Director Edward Kozel resigned today, reducing the company’s board from 10 members to nine.
Yahoo (YHOO) claims Kozel’s departure, which coincides with the postponement of the company’s annual shareholder meeting from July 3 to “around the end of July 2008,” has nothing to do with the battle over Microsoft’s (MSFT) takeover bid and the proxy war with Icahn. Kozel, it seems, just wants to–you guessed it–“spend more time with family.”