Yahoo Postpones Board Meeting, Director Resigns

Facing a battle for its board, Yahoo on Thursday pushed back its annual meeting until the end of July and announced the resignation of a board member.


Yahoo Postpones Board Meeting, Director Resigns

The annual meeting, during which the entire board is up for re-election, had been scheduled for July 3. Yahoo did not yet set a particular date for the annual meeting but said that it will be around the end of July.

Billionaire investor Carl Icahn has been scooping up Yahoo shares and has told the company he is nominating 10 candidates to replace the entire board. He has said that in doing so he hopes to reignite talks with Microsoft, which recently pulled its acquisition bid for Yahoo.

In addition to the change in the annual meeting, Yahoo said Edward Kozel resigned from the board. In a filing with the U.S. Securities and Exchange Commission, Yahoo said Kozel had planned to leave the board in February but decided to stay on following the acquisition proposal from Microsoft.

As a result of his resignation, Yahoo has reduced the size of its board to nine directors, it said.