Yahoo shareholder pushes for its board nominees

Mar 21, 2012

(AP) -- One of Yahoo's major investors is urging shareholders to vote its four nominees on to the Internet company's board, launching a potentially nasty fight to transform the Internet company's board.

Hedge fund Third Point LLC, which has a 5.8 percent stake in Sunnyvale, Calif.-based Yahoo, believes the struggling company would fare better if the hedge fund's representatives were in the boardroom helping overhaul Yahoo. Third Point's proposed directors are: Daniel Loeb, the hedge fund's manager; former NBC Universal CEO Jeff Zucker; former executive Michael Wolf and turnaround specialist Harry Wilson.

Its letter to Yahoo shareholders was released Wednesday in a regulatory filing.

Yahoo's long-running financial funk has depressed the company's stock price.

Explore further: Nintendo reports loss on shaky Wii U sales

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

Related Stories

Yahoo board battle may begin within the next week

Mar 15, 2012

(AP) -- A potentially nasty battle to reshape Yahoo's board of directors will begin within the next week unless the troubled Internet company submits to the demands of a major shareholder.

Yahoo faces investor mutiny as Asia talks unravel

Feb 15, 2012

(AP) -- Yahoo's hopes for a fresh start under a new CEO faded Tuesday as its closely watched discussions to sell most of its Asian holdings unraveled and a frustrated shareholder announced that he will try to seize four ...

Recommended for you

Why let your sales force influence product prices?

12 hours ago

From the outside, you might not notice the ongoing tension within many large businesses: the battle between salespeople, on the one hand, and marketers and product managers, on the other. Because the salespeople ...

User comments : 0