Friday, November 28, 2008
As Carl Icahn Buys More Yahoo Shares, Is It the Sign That a CEO Choice Is Near?
When everyone else has been selling, it seems Carl Icahn has decided to throw good money after bad–as in nearly $1 billion bad–by buying almost seven million more Yahoo shares, according to a regulatory filing.
Why is he doing it? BoomTown is guessing that the billionaire investor thinks he can recoup some of his massive losses in Yahoo, as Jerry Yang prepares to step down and the board, on which Icahn sits, names a new leader.
That’s why my guess is that the choice of a new CEO is likely to be sooner than later, much more Icahn-friendly and strong on operational skills.
BoomTown’s new guesses: Yahoo board member John Chapple or perhaps an ops star like HP’s Todd Bradley.
