Update: Yahoo, Icahn Reach CompromiseUpdate: Yahoo, Icahn Reach Compromise

<a href="http://latimesblogs.latimes.com/technology/2008/07/yahoo-and-icahn.html">Los Angeles Times</a>, <a rhef="http://www.techcrunch.com/2008/07/21/icahn-backs-down-from-yahoo-proxy-fight-in-return-for-three-yahoo-board-seats/">TechCrunch</a>

Jim Manico, OWASP Global Board Member

July 21, 2008

1 Min Read
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Yahoo investor Carl Icahn has agreed to put his proxy fight to rest in exchange for three board seats.Icahn, of course, will fill one of those seats; the other two will be chosen from a list of his nine hand-picked recommendations. Eight of the nine current Yahoo board members will be up for re-election, while Robert Kotick, CEO of Activision Blizzard, will step down. Shareholders meet Aug. 1.

Says Icahn, in this statement issued by Yahoo: "While I continue to believe that the sale of the whole Company or the sale of its Search business in the right transaction must be given full consideration, I share the view that Yahoo!'s valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders."

As late as Friday, Yahoo had set up a Web site stating why Icahn's plan wasn't in the company's best interest and encouraging shareholders to re-elect its current board.Los Angeles Times, TechCrunch

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About the Author

Jim Manico

OWASP Global Board Member

Jim Manico is a Global Board Member for the OWASP foundation where he helps drive the strategic vision for the organization. OWASP's mission is to make software security visible, so that individuals and organizations worldwide can make informed decisions about true software security risks. OWASP's AppSecUSA<https://2015.appsecusa.org/c/> conferences represent the nonprofit's largest outreach efforts to advance its mission of spreading security knowledge, for more information and to register, see here<https://2015.appsecusa.org/c/?page_id=534>. Jim is also the founder of Manicode Security where he trains software developers on secure coding and security engineering. He has a 18 year history building software as a developer and architect. Jim is a frequent speaker on secure software practices and is a member of the JavaOne rockstar speaker community. He is the author of Iron-Clad Java: Building Secure Web Applications<http://www.amazon.com/Iron-Clad-Java-Building-Secure-Applications/dp/0071835881> from McGraw-Hill and founder of Brakeman Pro. Investor/Advisor for Signal Sciences.

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