Unless Microsoft and Yahoo amicably agree on a deal to merge, the next step in the process is for Microsoft to propose an alternate slate of directors for the consideration of the Yahoo shareholders in their upcoming shareholder meeting. Once (and if) Microsoft gets control of the board, an acquisition is a done deal.
The deadline to propose board members originally was tomorrow. However, a recent delaying tactic by Yahoo pushed that date forward by a month or so. Everything we’ve heard, though, says that Microsoft intends to push their slate sooner rather than later. In fact, it is our understanding from a source that the slate was to be announced today, but it has been delayed. It could come any time.
So who’s on it? That’s been the subject of a lot of speculation. Microsoft is proposing ten new board members, plus two alternates. (Here’s the current board members they would replace). We’ve got four of the names. These are being gathered piecemeal from separate sources, so consider it somewhat speculative for now. We are reaching out to each of them for comment.
- Edward H. Meyer – former CEO, Grey Advertising
- John Chapple – CEO, Nextel Partners
- Tom Freston – former President, Viacom
- Jaynie Studenmund – Former CEO of eHarmony
Stay tuned for additions.