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It was the best of times, it was the worst of times – for Yahoo, anyway. It was the botched 6 month drama between them and Microsoft that made things so stressful. With Carl Icahn nipping at the heels for a takeover – then subsequent seat offering as a settlement – Yahoo had to create a great first impression to their stockholders so they could move on.
It was a long meeting. There was some debate on who should stay on the board and who should exit. There was even concern over the new seats and who would occupy them.
By the end of the day of August 1st, the meeting had resulted in a switch of power, ultimately leading to Jerry Yangs’ step down as CEO. By the next day, T. Boone Pickens had gotten rid of all his Yahoo stock.
Other items in the Week in Tech History – Fingerprints are used, The TRS 80 line is introduced and Windows Millenium Edition is dubbed “Millenium Alzheimers”.