A New York Post report paints a picture of a divided Yahoo board, split between a group of realists that see few options and a few Jerry Yang “loyalists” emotionally holding onto the idea of an independent Yahoo (NSDQ: YHOO). The realist group is supposedly headed up by newly installed chairman Roy Boystock and Ron Burkle, while the Yang side includes longtime board members Robert Kotick (12 years) and Eric Hippeau (5 years). Of course, all but Yang are classified as independent board members, so that wouldn’t seem to be a factor. If true, the report isn’t particularly surprising, since Yang as a co-founder and current employee of the company, might have more of a stake in seeing an independent Yahoo. It’s also not surprising that in a group of 10 people, there are some differing opinions on how best to proceed. The real issue here may not be the split, but the perception that Yahoo’s moves may not be in the best interest of shareholders, possibly prompting more lawsuits down the road.

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