Yahoo! shareholders! back! Jerry! Yang!
Embattled CEO wins 85 per cent support
Microhoo! Despite continued resentment over the aborted merger with Microsoft, Yahoo! shareholders have reelected the company's entire board of directors.
At today's annual meeting in San Jose, each of the web giant's nine directors received the support of at least 78 per cent of the voting shares. Roughly 85 per cent backed CEO Jerry Yang, and about 79 per cent backed Carl-Icahn-pen-pal Roy Bostock. Yang and Bostock led the company's rejection of Steve Ballmer's $44.6bn takeover bid.
Director Robert Kotick was backed by 92.5 per cent of the voting shares, and as planned, he resigned immediately following the meeting. The board then filled Kotick's seat with Icahn - who did not turn up for the festivities.
"We are at a unique point in our history, where we have the eyes of the world focused on our Company and tracking our performance," reads a canned statement from Yang. "We are redoubling our commitment to driving sustained, profitable growth for our stockholders. The value inherent in Yahoo!'s unique collection of assets is truly extraordinary, and the progress we've made on our initiatives this year signals our ability to capitalize on the underlying potential of these assets."
For all our Microhoo! coverage head here . ®