Dan Loeb is resigning from Yahoo's (YHOO -3.1%) board at month's end, as will the two other...

|By:, SA News Editor

Dan Loeb is resigning from Yahoo's (YHOO -3.1%) board at month's end, as will the two other board members originally nominated by Third Point (Harry Wilson and Michael Wolf); the resignations are said to be in accordance with the terms of Yahoo's May '12 settlement agreement with the firm. Also, Yahoo (via its existing buyback authorization) will repurchase 40M shares from Third Point, after which the firm will continue to own 20M shares (less than a 2% stake). Yahoo now has 7 board members. Loeb has made a sizable profit on his Yahoo investment since originally taking a stake in the summer of 2011. (previous)