A top shareholder of Yahoo Inc (YHOO.O) demanded the company overhaul its board, saying its directors had made "serious misjudgments" and "destroyed value" for stockholders. The shareholder, Third Point LLC, which has about $8 billion under management, said in a letter to Yahoo that a "reconstituted board with new directors who will bring fresh eyes, relevant industry expertise and increased investor alignment to the table is immediately necessary." Third Point said it had held discussions with a number of potential replacements for current directors. Yahoo CEO Carol Bartz was fired on two days ago.
Yahoo! Inc. (Yahoo!) is a digital media company. Yahoo! provides engaging and innovative canvases for advertisers to connect with their target audiences. Shares of YHOO traded higher by 3.01% or $0.41/share to $14.02. In the past year, the shares have traded as low as $11.09 and as high as $18.84. On average, 28743200 shares of YHOO exchange hands on a given day and today's volume is recorded at 41651360.
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