Printed from http://www.electronista.com

Yahoo postpones annual meeting, board member resigns

updated 11:35 pm EDT, Thu May 22, 2008

Edward Kozel steps down

Amid the ongoing Yahoo financial drama, Edward Kozel, a member of Yahoo's board of directors, is stepping down from his position to spend more time with his family and the company has postponed its annual meeting until the end of July. MarketWatch reports that the news comes as billionaire Carl Icahn sets is sights on replacing Yahoo's board in a proxy war, and could be Kozel's way of dealing with not wanting to lose face in the eyes of other potential companies. Kozel announced he would be focusing on personal matters, including a move with his family to Europe in the summer.

Kozel originally wanted to leave Yahoo in February, but stuck around during the company's time of need as Microsoft made an unsolicited multi-billion dollar bid for the search giant.

Analyst Rob Enderle asserts that this could be merely the first small pebbles of a larger landslide, placing increasing pressure on the remaining nine board members. Other members may jump ship as the situation rolls forward, with many upset at Microsoft for causing all the upset in the first place.

This latest development comes as Microsoft, which recently pulled its formal offer and proxy board bid, is still in talks with Yahoo about the former potentially divvying up and purchase the latter's ad service to pair with its own.

Yahoo is also trying to expedite a deal with Google's AdSense program - a move originally set in motion to deter Microsoft's interest in the company, that is now an attempt to protect itself from Icahn's proxy war.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Patriot Supersonic Rage XT 128GB USB drive

USB memory sticks are getting larger by the day, their growth speeding along with the availability and expansion of memory chips. But ...

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Sponsor

toggle

Most Commented

 
toggle

Popular News