Summary Box: Yahoo shareholder blasts company

Associated Press Published: March 28, 2012
Advertisement
;

SNUBBED: When Yahoo appointed three directors to its board on Sunday, it passed over a major Yahoo shareholder whose investment fund had been seeking four seats.

THE RESPONSE: Hedge fund manager Daniel Loeb described the snub as a glaring example of shoddy corporate governance in a letter Wednesday. He calls the decision "illogical."

YAHOO'S RESPONSE: Yahoo reiterated that it had been willing to add one of Loeb's preferred candidates, turnaround specialist Harry Wilson, to its board, as well as one other director acceptable to both the company and Loeb's fund. He rebuffed that suggestion and reiterated that he wants four seats.


Advertisement


Trending Now



AROUND THE WEB

  1. 1
    Oklahoma City Thunder: Russell Westbrook refuses to call FedEx Forum 'Grindhouse'
  2. 2
    Woman Admits to Taking Toy from Child's Grave
  3. 3
    Three Sexual Abuse Lawsuits Against Elmo Puppeteer Kevin Clash Dismissed
  4. 4
    Oklahoma State basketball: Former A&M players Don Johnson, Weldon Kern die
  5. 5
    James Harden loses cool with reporter after another Rockets loss
+ show more