AHN - Yahoo Settles Dispute With Icahn

Ed Sutherland - AHN Editor Sunnyvale, CA (AHN) - Yahoo and Carl Icahn have settled their long-running argument over management of the Internet company, announcing an agreement that averts a showdown at the upcoming 2008 annual company meeting. As part of the agreement, Icahn gains a seat on the Yahoo board and Chairman Roy Bostock, CEO Jerry Yang and six other board members will keep their spots. Icahn will withdraw his slate of candidates that were expected to be introduced at the Aug. 1 shareholders meeting. The pact also calls for board member Robert Kotick not to return and for the Yahoo board of directors to expand to 11 members from its current contingent of eight seats after the annual meeting. For months, Icahn and Yahoo leaders have issued almost daily volleys disputing the wisdom of the Internet company's recent... [read full story]