SUNNYVALE, Calif. (

TheStreet

) --

Yahoo!

(YHOO)

director Ron Burkle, the supermarket magnate, won't seek re-election to the Internet search company's board at the annual meeting later this year.

Burkle, who has been on Yahoo!'s board since November 2001, is stepping down "to devote more time to his other business interests," Yahoo! said in a press release.

Nearly 38% of Yahoo! shareholders opposed Burkle's re-election to the board in 2008, the

Associated Press

reports, blaming him in part for the mishandling of a $47.5 billion takeover bid from

Microsoft

(MSFT) - Get Report

.

Two other Yahoo! directors, including activist investor

Carl Icahn

, have left the board in recent months. The company named a new director, Sue James, to the board in January.

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.