The Wall Street Journal is reporting that billionaire investor Carl Icahn will seek to remove Jerry Yang as chief executive of Yahoo Inc if Icahn succeeds in a proxy battle against the company over its failure to reach a deal with Microsoft Corp.

Icahn has proposed an alternate slate of directors for Yahoo’s board, but has yet to directly target Yang.

“It’s no longer a mystery to me why Microsoft’s offer isn’t around,” the Journal quoted Icahn as saying. “How can Yahoo keep saying they’re willing to negotiate and sell the company on the one hand, while at the same time they’re completely sabotaging the process without telling anyone?”

I was hoping we had heard the last of this story, but apparently the shareholders are a little peeved that Yahoo didn’t accept the bloated microsoft offer… I guess I would be too…

Tags: Carl Icahn, fish, Microsoft, Yahoo, Yang