Mon, Jan 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Third Point launches campaign for Yahoo's board

Thursday, March 15, 2012

Bailey McCann, Opalesque New York: Activist US-based hedge fund Third Point, is launching a campaign to hand pick the board members at Yahoo!. Third point claims that the company has failed to provide the investor with enough say in the firm's operations. The actions by Third Point CEO Daniel Loeb echo earlier moves in November when he called for the resignation of Yahoo! co-founder Jerry Yang and then asked for two seats on the board.

Loeb has written a letter to the Securities and Exchange Commission (SEC), saying that the company left him "no other choice," than to launch this campaign. Loeb has previously nominated himself to serve on the board. Third Point is one of the firm's largest investors.

According to an emailed statement from Yahoo! quoted in a Reuters account of the matter, the company's corporate governance committee is considering a range of candidates. "The committee has included Third Point's candidates in its thorough review process and will make its recommendations to the full board in due course," the statement said.

Yahoo! has seen a several CEO's in recent years as the firm struggles to maintain revenue and market share against Google and Bing. The company lost more than a fifth of its revenue last year. Four board seats are currently ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Druckenmiller alums at PointState make $1 billion on oil, Andurand Capital sees oil sliding to $40[more]

    Druckenmiller alums at PointState make $1 billion on oil From Bloomberg.com: Hedge fund manager Zach Schreiber stood on stage at Avery Fisher Hall in New York eight months ago and made a bold prediction. “We believe crude oil is going lower -- much lower,” Schreiber, 42, told the audienc

  2. Investing - David Einhorn discloses a new position in Time Warner, Canyon trimming bets on mortgage bonds after making $7bn[more]

    David Einhorn discloses a new position in Time Warner From FTLeavenworthlamp.com: …Einhorn also disclosed a new position in Time Warner. "Since 2009, TWX has refocused its business into a collection of high quality assets including basic cable networks (Turner and CNN), a movie studio (

  3. Top performing private equity firms you should invest in[more]

    Komfie Manalo, Opalesque Asia: Professor Oliver Gottschalg of Paris-based HEC Business School, also known as Ecole des Hautes Etudes Commerciales de Paris has released his annual ranking of the top performing private equity firms. The 2014 HEC-DowJones Private Equity Performance Ranking

  4. Comment - Why invest in hedge funds if they don't outperform the market?[more]

    From Forbes.com: Hedge funds have always been a bit exotic and an enigma to some, but bottom line they are supposed to produce good returns using a range of strategies including global macro, event driven and relative value (arbitrage). And, sophisticated or high-net-worth individuals (HNWIs) could

  5. Owen Li 'truly sorry' for blowing up $100m of hedge fund’s assets[more]

    From CNBC.com: A hedge fund manager told clients he is "truly sorry" for losing virtually all their money. Owen Li, the founder of Canarsie Capital in New York, said Tuesday he had lost all but $200,000 of the firm's capital—down from the roughly $100 million it ran as of late March. "I take r