| Hedge fund Third Point files Yahoo board challenge Mar 21st 2012, 15:01 Reuters – 21 mins ago (Reuters) - Activist hedge fund Third Point on Wednesday filed a proxy statement with regulators seeking to install its own slate of directors on Yahoo Inc's board after criticizing the Internet company's recent appointees to the board. Third Point has a 5.8 percent stake in Yahoo, ranking it among the company's largest institutional shareholders. It has sharply panned Yahoo's performance and strategy in recent months and previously stated its intention to nominate new board members. A Web pioneer, Yahoo has seen revenue growth stall in recent years as rivals Facebook and Google Inc have increased their share of online advertising spending. Last month, Yahoo's board appointed Alfred Amoroso, former CEO of Rovi Corp, a digital entertainment company; and Maynard Webb, chairman of LiveOps, a customer call center company, after Yahoo Chairman Roy Bostock and three other directors announced they were stepping down. Third Point said in the filing that Yahoo's recently named board members are not in the best interest of the company or shareholders. "Installing the hand-picked choices of the current board does nothing to allay concerns that the Company is poised to repeat the errors of its past," the hedge fund wrote in its filing with the U.S. Securities and Exchange Commission. The hedge fund, led by Dan Loeb, 50, is nominating four directors to Yahoo's board, including Loeb and former NBC Universal CEO Jeff Zucker. The deadline for outside shareholders to nominate a rival slate of directors to Yahoo's board is March 25. (Reporting By Yinka Adegoke in New York; editing by Matthew Lewis)  How often do you upgrade your technology?  On its last legs On release day 60% 6,825 people have answered this question. 40% Loading...  [ [ [['Witnesses said the gunman pulled up on a black scooter', 7]], 'http://yhoo.it/GzwOIW', '[Related: New York police tighten security at Jewish sites]', ' ', '630', ' ', ' ', ], [ [['test Zimmerman for alcohol or drugs', 11]], 'http://yhoo.it/Gzn6VF', '[Related: White House says Trayvon Martin is local issue]', ' ', '630', ' ', ' ', ], [ [['Claude Guéant', 4]], 'http://l.yimg.com/os/152/2012/03/21/cd1e5227274087080a0f6a7067003e0d-jpg_145646.jpg', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/d/b4/db49ba9fa9a9bb5b59d2503822dd212c.jpeg', '630', ' ', 'AP/Remy de la Mauviniere', ], [ [['Shortly after he wrapped up his victory remarks', 2]], 'http://news.yahoo.com/photos/4-straight-romney-wins-washington-gop-caucus-1330835515-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/3/e9/3e9b0082c3c3111dcc19e3527ae94cc7.jpeg', '500', ' ', 'AP Photo/Steven Senne', ], [ [['best understands the problems of average Americans', 2]], 'http://news.yahoo.com/photos/4-straight-romney-wins-washington-gop-caucus-1330835515-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/3/e9/3e9b0082c3c3111dcc19e3527ae94cc7.jpeg', '500', ' ', 'AP Photo/Steven Senne', ], [ [['Trayvon Martin', 7]], 'http://news.yahoo.com/photos/white-house-stays-out-of-teen-s-killing-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/cv/ip/ap/default/120320/trayvonjquery.jpg', '630', ' ', 'AP', ], [ [['Group for Historic Aircraft Recovery', 7]], 'http://yhoo.it/GB2RVy', 'Click image to see more photos', 'http://l.yimg.com/os/152/2012/03/20/photo-1332257995646-4-0-jpg_171722.jpg', '630', ' ', 'AFP', ], [ [['xxxxxxxxxxxx', 11]], 'http://news.yahoo.com/photos/russian-grannies-win-bid-to-sing-at-eurovision-1331223625-slideshow/', 'Click image to see more photos', 'http://l.yimg.com/a/p/us/news/editorial/1/56/156d92f2760dcd3e75bcd649a8b85fcf.jpeg', '500', ' ', 'AP', ] ] [ [ [['French police stepped up the search',17]], �', '0' ], [ [['Seeking to elevate his candidacy back to a general', 8]], '28660934', '0' ], [ [['The tragic story of Trayvon Martin', 4]], '28647343', '0' ], [ [['Karzai will get a chance soon to express', 8]], '28630306', '0' ], [ [['powerful storms stretching', 8]], '28493546', '0' ], [ [['basic norm that death is private', 6]], '28413590', '0' ], [ [['songwriter also saw a surge in sales for her debut album', 6]], '28413590', '1', 'Watch music videos from Whitney Houston ', 'on Yahoo! Music', 'http://music.yahoo.com' ], [ [['keyword', 99999999999999999999999]], 'videoID', '1', 'overwrite-pre-description', 'overwrite-link-string', 'overwrite-link-url' ] ] | |
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