Yahoo Blasts Hedge Fund’s “Potentially Disruptive” Effort To Join The Board

Hedge fund Third Point seems to have struck a nerve at Yahoo with its new campaign to elect four of its own candidates — including former NBCU chief Jeff Zucker — to the board. The Internet company says this morning that last week it “proactively engaged in discussions with many of our largest shareholders, including Third Point” and invited them to suggest potential board candidates. That’s why Yahoo says ”it is especially disappointing that (Third Point’s Daniel Loeb) has chosen a potentially disruptive path, just as the Company is moving forward under new leadership to aggressively increase the value of Yahoo! for the benefit of all of its shareholders.” The board’s nominating and corporate governance committee is still reviewing candidates and will come up with a slate “in due course.”

Source: http://www.deadline.com/2012/02/yahoo-blasts-hedge-funds-potentially-disruptive-effort-to-join-the-board/

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