Icahn accuses Yahoo of failing to tackle Google's dominance

Business News IN BRIEF

*Carl Icahn, the billionaire activist engaged in a public battle with the internet search engine Yahoo, has published another angry letter he sent to the company. Mr Icahn accused the company, which last month fended off a takeover bid from Microsoft, of failing to come up with credible plans to catch up with the market leader Google. Mr Icahn, who is seeking to replace the board of Yahoo with his own nominees, including himself, said: "While Google's income from operations grew 59 per cent a year for the last two years, Yahoo's income from operations shrank 21 per cent." He accused the board, led by the chief executive Jerry Yang, of being asleep at the wheel. "What was the board doing during over this period? Where was their great plan? Why did you permit Google to leave you in the dust?" Mr Ichan said Mr Yang had failed shareholders and needed to be replaced by "a talented and experienced chief executive".

Copyright c 2008 Independent Newspapers UK Limited. All rights owned or operated by The Independent.
Provided by ProQuest Information and Learning Company. All rights Reserved.