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August 15, 2008

As many had expected, late yesterday, Yahoo announced that it has appointed Frank Biondi Jr. and John Chapple to its current board of directors.

This apparently puts an end on the never-ending Carl Icahn 'circus' episode, which featured the corporate raider's anemic attempts to take control of Yahoo, or in forcing an unwanted sale of the Number Two search property.

At the end of the day, Icahn simply settled for a board seat for himself as well as Yahoo expanding the size of its board to accommodate two more directors, with a bit of bias and persuasion from... well Icahn himself!

Yahoo's board agreed to select the two new executives from a pool that included Icahn's former slate of dissident directors.

Whether they came from Motorola or elsewhere is still unknown at this time. Of course, time will tell...

For his part, and in a statement, CEO Jerry Yang had this to say:

"I look forward to working together with Frank, John and the rest of our board to continue the progress we've made on our strategy to be the starting point for the most Internet users, a must buy for the most advertisers and to develop the world's most open platforms."

Biondi is a senior managing director of investment adviser WaterView Advisors, former chairman and chief executive of Universal Studios and a former head of Viacom.

Chapple is president of Hawkeye Investments in Redmond, Wash., and former CEO of Nextel Partners.

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Source: Yahoo.