Yahoo delays its board meeting again as one director steps down

Logo YahooTo give itself more time to prepare for a fight against Carl Icahn and his "dream team" of alternate board directors, Yahoo has apparently indefinitely delayed its shareholders meeting. One director, however, is preparing for something else.

A draft of a proxy statement filed by Yahoo this morning with the US Securities and Exchange Commission omits the date of its upcoming shareholders meeting, which had been scheduled for July 3.

Not only that, the company's own preferred slate of directors will be one fewer than shareholders expected. Ed Kozel, a member of the board since 2000 and chair of the Audit Committee from 2002 until last March, will not be running for re-election, and no one yet is being named to assume his post. A statement to the press said Kozel is retiring, to spend more time with his family.

Kozel's most recent executive post was as Chief Technology Officer of Cisco. In fact, he held that post twice, pausing once to take a sabbatical in 1998.

The proxy statement advises shareholders in several places not to vote for any of the alternate directors to be nominated by investor Carl Icahn. It doesn't have to name who those people are, but Yahoo urges caution when shareholders receive any other "proxy card" listing Icahn's powerhouse slate.

"The Icahn Entities have provided notice that they intend to nominate their own slate of ten (10) nominees for election as directors at the annual meeting and solicit proxies for use at the annual meeting to vote in favor of their own slate in opposition to all of the nominees named in Proposal No. 1," the proxy statement reads. "You may receive proxy solicitation materials from the Icahn Entities, including an opposition proxy statement and proxy card. Our board of directors urges you not to sign or return any proxy card sent to you by the Icahn entities...We urge you to disregard any proxy card sent to you by the Icahn Entities or any person other than Yahoo."

There probably won't be a lot of disregarding that day, despite how many times Yahoo repeated this warning, although what's not clear now is when that day will fall.

Source: BetaNews

Tags: Yahoo

Comments
Add comment

Your name:
Sign in with:
or
Your comment:


Enter code:

E-mail (not required)
E-mail will not be disclosed to the third party


Last news

 
Consumer group recommends iPhone 8 over anniversary model
 
LTE connections wherever you go and instant waking should come to regular PCs, too
 
That fiction is slowly becoming a reality
 
The Snapdragon 845 octa-core SoC includes the Snapdragon X20 LTE modem
 
Human moderators can help make YouTube a safer place for everyone
 
Google says Progressive Web Apps are the future of app-like webpages
 
All 2018 models to sport the 'notch'
 
The biggest exchange in South Korea, where the BTC/KRW pair is at $14,700 now
The Samsung Galaxy A5 (2017) Review
The evolution of the successful smartphone, now with a waterproof body and USB Type-C
February 7, 2017 /
Samsung Galaxy TabPro S - a tablet with the Windows-keyboard
The first Windows-tablet with the 12-inch display Super AMOLED
June 7, 2016 /
Keyboards for iOS
Ten iOS keyboards review
July 18, 2015 /
Samsung E1200 Mobile Phone Review
A cheap phone with a good screen
March 8, 2015 / 4
Creative Sound Blaster Z sound card review
Good sound for those who are not satisfied with the onboard solution
September 25, 2014 / 2
Samsung Galaxy Gear: Smartwatch at High Price
The first smartwatch from Samsung - almost a smartphone with a small body
December 19, 2013 /
 
 

News Archive

 
 
SuMoTuWeThFrSa
     12
3456789
10111213141516
17181920212223
24252627282930
31      




Poll

Do you use microSD card with your phone?
or leave your own version in comments (4)