Icahn Resigns from Yahoo's Board

Icahn Resigns from Yahoo's Board

Activist investor Carl Icahn has decided his work is done at Yahoo Inc. after muscling his way on to the slumping Internet company's board nearly 15 months ago.
In a resignation letter to the IT company on Friday, Icahn said he felt like it was time to leave Yahoo so he could spend more time on his investments in IT products in other companies.

"I don't believe that it is necessary at this time to have an activist on the board of Yahoo and currently my attention is focused on other matters," Icahn wrote.

Icahn, an outspoken billionaire, spent several months last year denigrating Yahoo co-founder Jerry Yang and the rest of the company's board after Yahoo turned down an opportunity to sell to Microsoft Corp. for $47.5 billion, or $33 per share.