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WEDNESDAY, NOVEMBER 25, 2009
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Icahn Stock Grab May Signal New Yahoo CEO

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(Newser) – Corporate raider Carl Icahn bought about $65 million in Yahoo shares this week, sparking AllThingsD blogger Kara Swisher to speculate that an "Icahn-friendly" CEO is on the way. Icahn's purchase, likely an attempt to recoup the $900 million he lost on his Yahoo stake this year, points to two former executives Icahn brought to the Yahoo board as probable replacements for Jerry Yang, Swisher writes.

One is ex-media exec Frank Biondi Jr.; the other, former Nextel exec John Chapple. Or, Swisher admits, Yahoo may choose a low-profile outsider from the tech world who can quietly turn the company around. Icahn's purchase increases his control of Yahoo to about 5.4%, which, along with his three board seats, makes it more likely that he can get the board to pick a CEO amenable to a deal with Microsoft. Yahoo shares rose 33 cents today on the news, closing at $10.58.

In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.
In this Oct. 11, 2007 file photo, private equity investor Carl Icahn speaks at the World Business Forum in New York.   (AP Photo/Mark Lennihan, file)
In this Cot. 11, 2007 file photo, private equity investor and chairman of ImCLone, Carl Icahn speaks at the World Business Forum in New York.
In this Cot. 11, 2007 file photo, private equity investor and chairman of ImCLone, Carl Icahn speaks at the World Business Forum in New York.   (AP Photo/Mark Lennihan, file)
In this May 7, 2007 file photo, billionaire financier Carl Icahn is seen as he arrives at the Motorola annual meeting in Chicago.
In this May 7, 2007 file photo, billionaire financier Carl Icahn is seen as he arrives at the Motorola annual meeting in Chicago.   (AP Photo/Charles Rex Arbogast, File)
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