The meeting has every chance to turn into a very heated event and that’s not because of the summer weather. It’s a known fact that investor Carl Icahn hopes to convince shareholder to back its own candidates for the board for directors and thus get the purchase offer from Microsoft back on the table.

Icahn pointed out that Yahoo’s co-founder Jerry Yang would be the first to leave the company if he wins the vote. The investor told the press that at least some directors need to be changed in order to make the deal with Microsoft go through.

Getting rid of the entire Yahoo board would be Icahn’s best dream, but the chances are rather slim.

Yahoo has been delaying the shareholders meeting in a bid to buy the time needed to present a solid alternative to Icahn’s take over deal. Whether the current leaders will survive August 1 or not, it remains to be seen.