Dissident investor Carl Icahn has joined Yahoo!’s board alongside two of his alternative slate of directors.
The move comes after Icahn agreed to drop his proxy battle to oust the online company’s existing board.
Icahn had proposed an alternative slate of directors for the Yahoo! board in an attempt to forge ahead with a potential deal with Microsoft.
However, under the terms of the settlement agreement, eight members of Yahoo!’s current board – including chief executive Jerry Yang – will stand for re-election at the company’s 2008 annual meeting.
Icahn said: “While I continue to believe that the sale of the whole company or the sale of the search business is the right transaction and must be given full consideration.
“I share the view that Yahoo’s valuable collection of assets positions it well to continue expanding its online leadership and enhancing returns to stockholders.”
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