Yahoo co-founder urged to help oust chairman

Sep 14, 2011

(AP) -- A major Yahoo shareholder seeking to oust Chairman Roy Bostock is urging company co-founder Jerry Yang to join the crusade.

The shareholder, hedge fund manager Daniel Loeb, called for Yang's help in letter sent Tuesday. Loeb controls a 5.2 percent stake in Yahoo Inc. through the Third Point LLC .

Loeb decided to try to reach out directly to Yang after Bostock hung up on him in a Monday phone conversation, according to a Tuesday regulatory filing. Bostock ended the call after Loeb described him part of the problem that has caused Yahoo's revenue and to slump for years, the filing said.

Yahoo's struggles prompted Bostock to fire company CEO Carol Bartz last week.

A spokesman for Yahoo's board declined to comment on Monday's call with Loeb.

Explore further: Yahoo sees signs of growth in 'core' (Update)

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Activist buys up stake in Yahoo, slams board

Sep 08, 2011

(AP) -- An activist investment fund disclosed Thursday that it has bought a 5.2 percent stake in troubled Web portal Yahoo Inc. and called for sweeping changes to the board.

Yahoo's board under fire after firing of CEO Bartz

Sep 09, 2011

(AP) -- Carol Bartz's firing as Yahoo Inc.'s CEO isn't going to be enough to placate a loudening chorus of shareholders who believe Chairman Roy Bostock and his fellow board members also should be ousted after years of questionable ...

Bartz blasts Yahoo! board

Sep 08, 2011

Fired Yahoo! chief executive Carol Bartz has responded to her dismissal with a characteristically salty blast at the board of directors of the Internet company.

Yahoo CEO promises shareholders to get 'mojo back'

Jun 25, 2009

(AP) -- Yahoo Chief Executive Carol Bartz echoed the turnaround promises of her predecessors as she presided over the first shareholder meeting since her hiring, yet she left little doubt the slumping Internet company's ...

Icahn pares Yahoo stake with sale of 12.7M shares

Aug 31, 2009

(AP) -- Financier Carl Icahn, one of Yahoo Inc.'s largest stockholders, has sold 12.7 million shares to whittle his holdings in the slumping Internet company down a percentage point to a 4.5 percent stake.

Recommended for you

Technip, Heerema win third giant Angolan oil contract

1 hour ago

The ultra-deep Angolan offshore oil project called Kaombo generated the third huge contract in three days on Wednesday when French group Total picked two firms to carry out underwater engineering worth $3.5 billion.

Yahoo sees signs of growth in 'core' (Update)

16 hours ago

Yahoo reported a stronger-than-expected first-quarter profit Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business.

Twitter buys data analytics partner Gnip

19 hours ago

Twitter says it has bought its data partner Gnip, which provides analysis of the more than 500 million tweets its users share each day—to advertisers, academic institutions, politicians and other customers.

User comments : 0

More news stories

How does false information spread online?

Last summer the World Economic Forum (WEF) invited its 1,500 council members to identify top trends facing the world, including what should be done about them. The WEF consists of 80 councils covering a wide range of issues including social media. Members come ...

Patent talk: Google sharpens contact lens vision

(Phys.org) —A report from Patent Bolt brings us one step closer to what Google may have in mind in developing smart contact lenses. According to the discussion Google is interested in the concept of contact ...

Melting during cooling period

(Phys.org) —A University of Maine research team says stratification of the North Atlantic Ocean contributed to summer warming and glacial melting in Scotland during the period recognized for abrupt cooling ...

Australia's dirty secret: who's breathing toxic air?

Australians living in poorer communities, with lower employment and education levels, as well as communities with a high proportion of Indigenous people, are significantly more likely to be exposed to high ...