Yahoo CEO Jerry Yang has lost control of the Yahoo board. New Yahoo chairman Roy Bostock and billionaire Ron Burkle now lead a majority contingent which worries CEO Jerry Yang has let his emotions override his duty to shareholders in the face of Microsoft's takeover attempt. Support for Yang's efforts to resist Microsoft has dwindled to just Softbank's Eric Hippeau and Activision CEO Robert Kotick, the New York Post reports.
One source told the paper, "The emotional part of Yang would rather do anything but sell to Microsoft, but he doesn't have the cards to come up with a value-creating, competitive alternative for shareholders." Reports yesterday indicated Yang's last hope remains with Rupert Murdoch and News Corp..