Icahn resigns from Yahoo board
Activist investor, who pushed for Yahoo to sell to Microsoft, steps down as director, says an activist director is no longer needed.
NEW YORK (CNNMoney.com) -- Activist investor Carl Icahn is resigning from Yahoo Inc.'s board of directors.
Since he joined in the summer of 2008, Yahoo named Carol Bartz to replace co-founder Jerry Yang as chief executive and then entered into a 10-year partnership with Microsoft (MSFT, Fortune 500) to take on search engine titan Google.
"When I joined the Board, the company was in a state of turmoil," Icahn wrote in his resignation letter. "In the period since then, we have all worked together to achieve much for the company, most notably bringing Carol on to be the CEO and then consummating the search deal with Microsoft."