Carl Icahn has increased his investment in Yahoo by purchasing nearly 7 million shares. This comes on the heels of the announcement that Jerry Yang will be stepping down as CEO, once a new one has been tapped.
While some may see this as a sign of “Carl in Charge,” I wonder if this move is just a bit risky on Icahn’s part. If the stock drops lower and Yahoo goes to Microsoft in a fire sale, Icahn will lose even more money than the millions he’s already lost this year. Icahn bought a nice chunk of shares earlier this year in order to have a stronger voice as a shareholder. He later became a member on Yahoo’s newly expanded board.
Meanwhile, and unrelated, Yahoo’s European Head Toby Coppel is leaving his post. Stepping up is SVP of Europe’s Advertiser & Publisher Group Rich Riley.
Eric Jackson to Yahoo: I Can Quit You, and I Did