The Week: City news - Icahn plans to oust Yang

The dissident Yahoo! investor Carl Icahn has proposed sacking Jerry Yang, the chief executive of Yahoo!, if he succeeds in replacing the company's board of directors with his own appointees.

In a letter to Yahoo!, Icahn alleged that Yahoo! "sabotaged" Microsoft's initial $33-a-share offer for the company. The Yahoo! chairman, Roy Bostock, hit back at Icahn for "manipulating facts", and asked shareholders to reject his proposals and vote to reinstate the current board.