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Yahoo board wins investor vote


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Posted on Aug 4, 2008, 9:03 AM UTC by Winston Chim
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Looks like Jerry Yang is very lucky during the annual shareholders meeting at Yahoo. He gets to keep is CEO title with the backing of 85% of investors. 

BBC

"Yahoo shareholders have voted to re-elect the firm's board after it defended its handling of negotiations with Microsoft over a possible deal. Chief executive Jerry Yang won the backing of 85% of investors at Yahoo's annual meeting in California.

Some investors had criticised the firm's failure to agree a deal with Microsoft, which had offered to buy the internet firm for $47.5bn (£24.1bn).

During the meeting, one called on chairman Ray Bostock to resign. Shareholder Eric Jackson of Ironfire Capital - one of 150 investors at the meeting - said Mr Bostock "should do the honourable thing and step down from the board". He accused the Yahoo boss of overplaying his hand with Microsoft. "

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