{"id":11065,"date":"2011-11-05T01:11:29","date_gmt":"2011-11-05T01:11:29","guid":{"rendered":""},"modified":"2011-11-05T01:11:43","modified_gmt":"2011-11-05T01:11:43","slug":"Should-Jerry-Yang-be-kicked-off-Yahoo-s-Board-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=11065","title":{"rendered":"Should Jerry Yang be kicked off Yahoo’s Board?"},"content":{"rendered":"

Dan Loeb has criticized Yahoo\u2019s board. And now the hedge-fund investor is calling for Jerry Yang, a founder of the Internet company, to be deposed.<\/strong><\/p>\n

In a letter Loeb said he sent to Yahoo\u2019s board, the investor says he\u2019s worried about a \u201cleveraged recap\u201d transaction the company is pursuing. Such a transaction would give private-equity firms a possible shot at taking over control of Yahoo without buying a majority stake. Loeb also said he is worried about reports Yang is talking on his own to potential private-equity buyers of Yahoo.<\/p>\n

\u201cThe Board and the Strategic Committee should not have permitted Mr. Yang to engage in these discussions, particularly given his ineptitude in dealing with the Microsoft negotiations to purchase the Company in 2008,\u201d Loeb writes in his letter.<\/p>\n

Loeb also wants two director posts on the Yahoo board \u2014 the seats now held by Yang and by Yahoo Chairman Roy Bostock. Loeb\u2019s letter includes a veiled threat (ok, no so veiled) of a campaign to boot off Yahoo\u2019s existing board members.<\/p>\n

Change is always good, especially for a company that doesn’t seem to know what it’s doing!<\/strong><\/p>\n

Source<\/a>
\n<\/p>\n","protected":false},"excerpt":{"rendered":"

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