Carl Icahn Steps Down from Yahoo Board

Carl Icahn, the billionaire investor that has long been associated with Yahoo, has decided to step down from his position at Yahoo’s board, stating that the Internet search giant no longer has any need for an activist investor. Icahn’s legacy with Yahoo involves his ardent efforts to get Jerry Yang removed as the CEO of the company.

According to Icahn, Yang acted in such a way that was against the best interests of shareholders, opting to replace Yang with Carol Bartz. Following the replacement, Icahn and the rest of the board guided Yahoo toward a search and advertising deal with Microsoft.

Icahn has been praised by his fellow boardmembers and by the Chairman of the Board, Roy Bostock, for his active and relentless role in shaping the future of Yahoo. According to Bostock, Icahn has long been a significant member of the board of directors and has had a huge hand in guiding the company through several significant transitions.

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