Loeb on Yahoo Board: I’ve Looked at Clowns From Both Sides Now
And you thought former Yahoo CEO Carol Bartz could lay into the Yahoo board with some zingers, including the not-used-enough “doofuses” insult.
Time to meet Third Point’s Daniel Loeb, the smack-tastic hedge fund manager who has bought up a 5.1 percent stake in the Silicon Valley Internet giant and has been hitting the company upside the head with those shares since last week, on a seemingly daily basis.
Actually, twice yesterday — in a morning letter he filed with regulators, and then at an afternoon investor conference.
After trying to entice Yahoo co-founder Jerry Yang into throwing Chairman Roy Bostock under the bus, and noting in the letter that Bostock hung up on him in a recent phone call, Loeb told the attendees at the Delivering Alpha conference in New York that “no one wants to work with these clowns on the [Yahoo] board.”
Also that “Yahoo had one of the most horrendous management teams” that Loeb had “seen in 16 years.”
Also that Yahoo “has the same crappy interface and the same stupid logo” since 2004.
Other than that, Mr. Loeb, how is the Internet site?
Here is Loeb’s latest filing to see for yourself: