Loeb hopes to win four Yahoo board seats

Absrtact: According to foreign media reports, Yahoo major shareholder, the U.S. hedge fund Third Point fund manager Danlebo (Dan Loeb) in Tuesday to the Yahoo Conservatives declared war, formally launched a proxy battle. Loeb hopes to get four seats on Yahoo's board, which he himself will account for

According to foreign media reports, Yahoo major shareholder, the U.S. hedge fund Third Point fund manager Dan Le Boux (Dan Loeb) in Tuesday, declared war on Yahoo Conservatives, formally launched a proxy battle. Loeb hopes to get four seats on Yahoo's board, of which he himself will occupy a seat.

In addition to Mr Loeb himself, his other candidates include: restructuring expert, Mavea Group chief executive Harry Wilson Harry Wilson, media advisor, Michael Michael J. Wolf, who served as the chief operating officer of Viacom's MTV NX. Former NBC Global CEO Jeff Zacher (Jeff Zucker).

In a paper submitted to the Securities and Exchange Commission (SEC), Mr. Loeb said he was pleased with Yahoo co-founder Jerry Yang's departure from the company's board and the subsequent departure of the Chairman of the board, Bostock Roy Bostock, and the other three directors. But Loeb says these are not enough, and Yahoo needs people who know how to get the company out of trouble, and Yahoo needs people who are well aware of the media business.

Yahoo announced the restructuring of its board earlier this month, with the company's chairman, Bostock, and three other directors voluntarily proposing not to run for re-election. Meanwhile, Yahoo has appointed two new directors. In a Tuesday statement, Yahoo said that former IBM executives, ROVI board director Alfred Amorusso Alfred Amoroso, and LiveOps board chairman, former ebay chief operating Officer Menade Weber (Maynard Webb, Jr) would join the company's board of directors. At the same time, Bostock and Viomes Choshi (Vyomesh Joshi), Asser Kern (Arthur Kern) and Gari Wilson (Gary Wilson) have voluntarily offered not to re-enter the board.

In recent years, as corporate revenues continue to slide and market share has been eroded by Google and Facebook, the US's biggest web portal Yahoo has been under pressure from shareholders to restructure management. A source familiar with the matter said that the deal negotiations between Yahoo and its Asian partners were in the middle of a possible rupture, and that the focus of a difficult agreement was the central element of the complex deal, a spin-off that involved large amounts of cash.