Dissident Yahoo shareholder Daniel Loeb of the hedge fund Third Point plans to nominate four boardmembers including himself, Bloomberg reports. Loeb and Third Point contend the recent overall at Yahoo including the exit of co-founder Jerry Yang and the impending departure from the board of Roy Bostock didn’t go far enough to assuage concerns about the company’s prospects. In addition to its own CEO and co-founder Loeb, Third Point recommends Maeva Advisors CEO Harry Wilson, Activate Inc. CEO Michael Wolf and Jeffrey Zucker, former CEO of NBC Universal, according to a Securities and Exchange Commission filing today. “The recently announced changes do not put the issuer on the right track towards maximizing shareholder value,” Third Point said. “Installing the hand-picked choices of the current board does nothing to allay investor fears that Yahoo is poised to repeat the errors of its past.” Yahoo, now under the leadership of Scott Thompson, last week said Bostock and three others would not stand for re-election as directors.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.