Yahoo! Director Resigns, Annual Meeting Postponed

This move will hopefully reinstitute talks with Microsoft about the recently pulled bid to purchase Yahoo Inc.

Yahoo Inc. Director, Edward Kozel resigned from the board, though he planned on leaving as early as February.

Yahoo Inc.’s annual meeting, scheduled for July 3rd has been pushed back until the end of July to allow more time for Yahoo to work out a deal with Microsoft.  The meeting was scheduled for re-elections of the entire board of directors.  Billionaire investor Carl Icahn has been purchasing Yahoo shares and using that leverage to nominate 10 candidates to replace the entire board.  This move will hopefully reinstitute talks with Microsoft about the recently pulled bid to purchase Yahoo Inc.

Kozel had planned on staying beyond his initial resignation in February due to the acquisition proposal from Microsoft but now officially resigned “to spend more time with his family”.  Before being appointed to the board in 2000, Kozel spent eleven years as the Chief Technology Officer at Cisco Systems Inc.
All of these moves lead to the possible purchase of Yahoo in the near future.