Icahn launches another attack on Yahoo board

Another day, another open letter to Yahoo's management from billionaire investor Carl Icahn. In the latest round of sparring between Icahn and Yahoo, the billionaire financier attacks Yahoo's board accusing them of losing ground on competitor Google.

Replying to comments made by Yahoo chairman Roy Bostock, Icahn notes that while Google's income from operations grew 59% in the last two years, Yahoo's decreased by 21% and he places the blame squarely at the door of the Yahoo board.

Icahn also states that Google's success is down to the work of their chief executive Eric Schmidt and that Yahoo CEO Jerry Yang should be replaced by someone with more talent and experience.

The gloves really come off when Icahn defines the board's company strategies in recent years as "failures". The corporate raider has drawn up a short list of alternative candidates for Yahoo's board including Mark Cuban and Frank Biondi of Viacom.

United Kingdom - Excite Network Copyright ©1995 - 2021