Icahn Millionare Directors Leave Yahoo

Carl Icahn millionaire who is one investor in Yahoo resign from Yahoo board seats. For what reason?

In his resignation letter, Icahn said that the current thought is the right time for him to resign from the Yahoo board so he can devote more time to invest in other companies.

“I’m not sure when this is required the presence of an activist in the ranks of Yahoo directors. Now it’s time I focused on other matters,” Ichan wrote in his resignation letter.

In his letter, Icahn gave praise to Yahoo chief executive, Carol Bartz, who thinks doing extraordinary work.

In addition, Icahn also praised Yahoo’s decision to cooperate with Microsoft three months ago in order to conquer Google, especially in the search engine market. Current cooperation agreement between Yahoo, Microsoft is awaiting approval from regulators.

Icahn is one of the Yahoo shareholders with ownership of 4.5 percent, after selling 12.7 million shares last September. He was one Yahoo investor who loudly called for the replacement of Jerry Yang,  Yang rejected because the Microsoft proposal worth U.S. $ 47.5 billion or about U.S. $ 33 per share.