Carl Icahn exiting Yahoo board

Lauds new CEO Carol Bartz

NEW YORK -- Activisit shareholder Carl Icahn said late Friday he is leaving Yahoo's board to focus on other companies.

In a statement, he said there is "not a need at this time for an activist investor."

He lauded CEO Carol Bartz for doing "a great job" and said a recent search and ad deal with Microsoft has great potential "which many still do not understand."

Icahn grabbed a board seat last year before Bartz took over.

Icahn has invested in various media and entertainment companies and pushed an activist agenda at such firms as Time Warner and Lionsgate.