Icahn Accuses Yahoo! Brass of Failing Investors
The proxy battle for Yahoo! got more hostile Monday when Carl Icahn fired off a letter accusing management of misleading employees and failing its investors.
Icahn’s letter to Roy Bostock takes the Yahoo! chairman to task for making “approximately $10,000 per week last year — not bad for a board member. I believe most of your shareholders would be interested in seeing your time sheets.”
Icahn seeks to replace the Yahoo! board with his own slate that includes himself and media moguls such as Frank Biondi, Mark Cuban and Robert Shaye, but Yahoo! on Monday advised shareholders against such drastic measures.
“Icahn has no credible plan except to sell the company to Microsoft — despite the fact that Microsoft has publicly indicated that it has no current interest in such a transaction,” Bostock and CEO Jerry Yang wrote in a letter to shareholders.
The
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in