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October 12, 2008 7:36:48 AM CDT

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Icahn to Yang: I've Got Your Pink Slip

Posted Jun 4, 08 6:46 AM CDT in Technology,  Business 

(Newser) – Billionaire investor Carl Icahn wants Jerry Yang out of Yahoo's CEO seat, and has a pink slip waiting if his proxy action to take over the board is successful, reports the Wall Street Journal. Icahn yesterday unleashed a torrent of criticism of Yang’s role in the aborted Microsoft buyout deal—even as a January 2007 $40-a-share offer came to light this week—and says the software giant no longer trusts Yang.

“It's no longer a mystery to me why Microsoft's offer isn't around," Icahn said, referring to a $2.5-billion employee-retention plan he believes Yahoo used to deter a takeover. "How can Yahoo keep saying they're willing to sell the company on the one hand, while at the same time they're completely sabotaging the process without telling anyone?"

Source Wall Street Journal

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A Yahoo worker leaves Yahoo headquarters in Sunnyvale, Calif.. Billionaire activist investor Carl Icahn is launching a proxy battle to remove Yahoo's board of directors.   (AP Photo/Paul Sakuma, file)
Financier Carl Icahn.   (AP Photo/Charles Rex Arbogast)
Yahoo CEO Jerry Yang.   (AP Photo/Paul Sakuma)
Private equity investor Carl Icahn.   (AP Photo/Mark Lennihan, file)
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