Yahoo Appoints Two to Board in Icahn Pact

Abstract
The choices, which were expected, are unlikely to shift the overall mindset of the now 11-member Yahoo board, which is struggling to win the confidence of shareholders who were disappointed the company hasn't sold all or parts of its business to Microsoft Corp. Yahoo shareholders withheld more than 30% of shareholder votes cast for four of nine Yahoo directors at the company's Aug 1. shareholder meeting.
Full Text
Yahoo Inc. said Thursday it chose experienced executives John Chapple and Frank Biondi to join its board, fulfilling its pact with investor Carl Icahn.
Mr. Chapple is the former chief executive of Nextel Partners, a small wireless company that he sold to Sprint Nextel Corp. Mr. Biondi was the chief executive of Viacom Inc. and the chairman and CEO of Universal Studios. Mr. Biondi sits on the board of five other corporations, including Amgen Inc. and Cablevision Systems Corp.
The appointments were in accordance with an agreement with Mr. Icahn, who in return dropped his campaign to replace the entire Yahoo board. In addition to Mr. Icahn, who is also joining the Yahoo board, Yahoo was obligated to choose two directors from a list of people that Mr. Icahn recommended.
The choices, which were expected, are unlikely to shift the overall mindset of the now 11-member Yahoo board, which is struggling to win the confidence of shareholders who were disappointed the company hasn't sold all or parts of its business to Microsoft Corp.
Yahoo shareholders withheld more than 30% of shareholder votes cast for four of nine Yahoo directors at the company's Aug 1. shareholder meeting.
The new picks bring a range of experience that could be relevant in the coming months as potential suitors are likely to continue to circle the Internet company.
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