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Lose-lose: Icahn drops proxy fight, Yahoo puts him on board | |
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| Time: 10:25 EST/15:25 GMT | News Source: Ars Technica | Posted By: Michael Dragone | ||
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The agreement will see Icahn withdraw his slate of alternate candidates for the Yahoo board. In exchange, board member Robert Kotick will resign to free up a seat that will be taken by Icahn; Kotick can presumably focus on his role as part of Activision's board. After the August shareholder's meeting, Yahoo will expand its board by two seats, to 11 members; both of the new seats will be filled by candidates of Icahn's choosing. | ||
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