Tuesday, June 3, 2008

Icahn seeks removal of Yahoo CEO Yang

Yahoo set plans on Tuesday to hold its annual shareholder meeting on August 1 in the heart of Silicon Valley, setting the stage for <A HREF="http://news.yahoo.com/s/nm/20080603/tc_nm/yahoo_icahn_dc">a showdown with activist investor Carl Icahn,</A> who is mounting a proxy fight for control of the company.

Earlier, The Wall Street Journal reported that Icahn, a billionaire investor, would seek to remove Jerry Yang as Yahoo chief executive, citing the company's failure, so far, to reach a merger or partnership deal with Microsoft.

Icahn has proposed an alternate slate of directors for Yahoo's board, but had not directly targeted Yang over the breakdown in talks early this month for a $47.5 billion deal.

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