Yahoo should not allow Jerry Yang to participate in negotiations on the deal

Absrtact: Beijing time November 5 News, according to foreign media reports, Yahoo Radical investors Third Point CEO Daniel Lebe (Daniel Loeb) asked Yahoo founder Jerry Yang to resign as a director of the request, Yahoo board issued a statement that the company's board of Directors

Beijing Time November 5 News, according to foreign media reports, Yahoo Radical investors Third point chief Daniel Le Boux Daniel Loeb asked Yahoo founder Jerry Yang to resign as a director of the request, Yahoo board issued a statement that the company's board is working well, No director is required to resign.

Yahoo's board has been in the middle of a world of accusations. Carol Bartz, the former Yahoo CEO who was sacked, accused Yahoo's board of Bartz, while Yahoo's board was plotting to sell companies or other deals.

Daniel Le Boux, chief executive of Third Point, a hedge fund company, also wrote to Yahoo's board in Friday to ask Yahoo co-founder Jerry Yang to resign from the company's board. In this respect, the Yahoo board said in a statement: "The Yahoo Board of Directors of the comprehensive strategic assessment is in order to benefit all shareholders, and the board of directors selected independent directors and investment bankers advisory guidance." ”

"We can assure all Yahoo shareholders that whatever the outcome of the strategic assessment, it will benefit the best interests of all Yahoo shareholders," the statement said. Mr. Yang is one of 9 members of the company's board of directors, who shares the same duties and intrinsic motives as the other directors, which serve the best interests of all shareholders of the company. The Board of Directors and the Board of Trade and strategic planning initiated, guided and supervised Jerry Yang's strategic assessment. ”

Mr. Loeb said in an open letter that Yahoo should not allow Jerry Yang to participate in negotiations on the deal, especially given that Microsoft's 2008 bid for Yahoo failed. "The company's ethics and related laws stipulate that yang is far from being involved in further negotiations on behalf of Yahoo," Mr. Loeb wrote in the letter. In addition, the company should immediately ask Jerry Yang to resign from the board. Earlier, Loeb had asked Yahoo's board chairman, Roy Postock Roy Bostock, to resign. Third Point currently holds a 5% per cent stake in Yahoo.