Yahoo Director Quits; Company Postpones Annual Meeting
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The Yahoo board is one short.
Edward Kozel, a former Cisco CTO, now a VC, and a Yahoo
board member since October of 2000, tendered his resignation Thursday saying he
meant to leave in February but stayed on because of Microsoft’s unsolicited
acquisition proposal. Now he’s going to do what he intended and spend more time
with his family, including relocating them to
How odd. He’s at the center of a situation pregnant with possibilities affecting an entire industry and all he can think of is spending more time with his family? Hmmm.
Yahoo told the SEC that with him gone it’s reducing the size
of its board from 10 to nine.
The company then nominated the rest of its incumbent board for
re-election, pitting it against activist stockholder Carl Icahn’s shadow slate
of replacements willing to sell the company to Microsoft, if Microsoft can be
persuaded to buy it.
The move sets the scene for a continued, longer-playing
drama since Yahoo has also moved back its scheduled July 3 stockholders meeting
to some unspecified time toward the end of the month.
And according to a Yahoo filing with the SEC, other Yahoo stockholders want to run their own candidates for the board.
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