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Jerry Yang arrives for the announcement of a commitment pledge at the Clinton Global Initiative in New York September 22, 2010. Credit: Reuters/Lucas Jackson Wed Sep 14, 2011 11:17am EDT (Reuters) - Yahoo Inc shareholder Daniel Loeb appealed to the company's co-founder Jerry Yang to fire Chairman Roy Bostock and several other directors to revive the Internet media company after years of poor performance. Loeb heads hedge fund Third Point LLC, which holds a 5 percent stake in the company. After calling for Bostock's resignation last week, Loeb spoke on the phone with him and Yang urging for a "desperately needed leadership change." During the phone call Bostock did not "acknowledge any responsibility" for the company's problems and that he was "not likely" to step down from the board, Loeb said in a filing with the U.S. Securities and Exchange Commission. Bostock then hung up on Loeb, according to the filing. Loeb then fired off a letter to Yang issued on Wednesday expressing support and offering a list of candidates "who could help bring Yahoo back to its rightful place among the world's top digital media and technology companies." "As a Founder and major shareholder of the Company, the abysmal record of the current leadership must be heart-rending to you personally, as well as damaging to your net worth. We urge you to do the right thing for all Yahoo shareholders and push for desperately-needed leadership change," Loeb wrote to Yang. Third Point has about $8 billion under management. (Reporting by Jennifer Saba; Editing by Derek Caney) Technology Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. Social Stream (What's this?) 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