Activist shareholder Eric Jackson has some advice for all the little guys out there holding Yahoo shares: Come August 1, split the difference on the Yahoo board between the current directors and Carl Icahn’s alternative slate. If a majority of the board is replaced, the poison-pill severance package might be triggered. So Jackson is recommending that shareholders vote for four of Icahn’s nominees (Adam Dell, John Chapple, Lucian Bebchuk, and Edward Meyer) and keep five of the current board members (Vyomesh Joshi, Robert Kotick, Maggie Wilderotter, Gary Wilson, and Jerry Yang).
That sounds like a recipe for complete gridlock. Fortunately, Jackson only speaks for a tiny group of 150 Yahoo shareholders who collectively own a mere 3.2 million shares, out of 1.4 billion shares outstanding (in contrast, Icahn owns 69 million). But Jackson wants to attract more members to his over the next two weeks, and has created a “Yahoo Plan B” forum on Agoracom to bring small Yahoo shareholders together and collectively come up with a better plan for Yahoo.
That’s the same name as his activist plan from last year, when he was calling for the ouster of then-CEO Terry Semel. He also called for the replacement of seven of Yahoo’s board members, including Robert Kotick and Gary Wilson (two of the Yahoo board members he thinks should now stay).
The battle for shareholders is on. Yahoo itself is using its homepage to make its case directly to shareholders. The next two weeks should see more Yahoo activists come out of the woodworks. The summer fun has just begun.
If that happens, every board meeting will turn into a “blood” meeting….
C’mon guys, this baby ain’t gonna split itself!
i have some advice for yahoo share holders: sell. sell now, sell fast. this charade is ridiculous.
i had no idea things were that bad at yahoo.. no wonder google and facebook “run things”..
A shareholder with less that 0.2 % of the shares wants a split board => and it indicates to you that Google and facebook are running things..
nice.. I see the logic.
up
foto and video sex
Go Yahoo!
Good morning, Erick and thanks for the coverage of both the story and Agoracom. No matter how anybody feels about the situation, I think the real story here is shareholder activism 2.0 and the ability for individual shareholders to amalgamate and communicate in an online financial community free of spam, profanity and other noise that plague 1st generation financial sites.
When you dramatically increase signal and reduce noise, we have a situation for individual shareholders to discuss the pro’s and con’s, leading to some kind of consensus and speaking with one voice.
Thanks and looking forward to seeing you at TechCrunch 50.
Regards,
George
Founder
AGORACOM
eric…
what summer fun… iccan/yahoo apparently just anounced that icann will join the board, and apparently get to have a couple of his slate placed on an expanded board..
looks to me like both parties have more or less kissed and made up..
peace..
this is not the end… upcoming poor Q2 results probably will lead to next level of frustation and discussion about missmanagement by sue decker and jerry.
it´s about execution and thats where yahoo is still in major trouble around the world in particular… look at asia and europe - things are worse for yahoo all around the world
Interesting to see so much turmoil between shareholders. This should be an interesting Aug. 1 board meeting….
Mike
http://www.readtheanswer.com/index.php?RTA=web2
interesting, I hope you can increase your list and have fun.
james
http://www.incansoft.com/IS0003.php