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Roy Bostock, Yahoo! Inc.'s new chairman, who joined the board only a short time before Microsoft Corp's unsolicited takeover bid, has previous experience handling takeovers. In addition to his position at Yahoo!, Bostock is chairman of Northwest Airlines Corp. and a member of the board at Morgan Stanley. Friends and colleagues of Bostock assert that the chairman has an excellent track record when it comes to getting good prices for companies and, therefore, good value for shareholders. These negotiating skills were demonstrated in 1999 when Bostock, as chairman and chief executive, sold MacManus Group to Leo Group. By shopping the company around, Bostock was able to increase the price. In 2002, Bostock went on to sell the combined firms to Publicis Groupe for a personal profit of around $75 million. Bostock's 38 years of experience in advertising, and many contacts including strong ties to Proctor & Gamble Co., have aided Yahoo! since he became a member of the board in May 2003. When Yahoo! began losing ground to Google Inc. in online advertising, Bostock pushed for change including the replacement of the CEO. Bostock's position on the Microsoft deal is still unknown, but those who know him assert that he will dispassionately aim to maximize shareholder value.
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