August 5th, 2008
Yahoo: Our board a lot less loved today
Yahoo’s shareholder meeting last Friday looked like a resounding victory for CEO Jerry Yang and Chairman Roy Bostock. The reality was a bit different.
The company failed to tabulate the results correctly and was prodded to check the results after investors started griping. Suddenly, Bostock and Yang look a little less popular (statement and Yahoo coverage).
To wit:
- Yahoo’s original tally had 85.4 percent of shareholders voting for Yang with only 14.6 percent of shares withheld. The reality is that 66.3 percent voted for Yang and 33.7 percent of shares were withheld.
- Bostock looked like 79.5 percent of shares were voted for him with only 20.5 percent withheld. The reality: 60.4 percent voted shares for Bostock with 39.6 percent of shares withheld.
Now a win is a win for Yahoo, but the new voting statistics reveal that folks are a little more disgruntled with Bostock and Yang than they seemed to be just a few days ago.
Here are the retabulated results:
Larry Dignan is Editor in Chief of ZDNet and Editorial Director of ZDNet sister site TechRepublic. See his full profile and disclosure of his industry affiliations.
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