Yahoo Issues

What is all the noise about at Yahoo? Well some of their largest stockholders are demanding an inquest about how last week’s re-election votes were cast to elect members to the Internet Company’s board. There are those that claim the vote did not reflect the Investors’ opposition to their Chief Executive Jerry Yang.

Why? It seems one of Yahoo’s investor would like the other shareholders vote a board of directors that combines some of the current directors and some of the nominees that are currently on the slate.

Other board members are offering their opinions on the idea of a combined board. Some members agree on a mixed board and others look at it as a takeover and are launching a proxy fight. Of course in the middle of all of this is Microsoft’s recent unsuccessful bid to takeover Yahoo, because they turned down their bid. Yahoo shareholder Carl Icahn is very angry about an employee severance package. The Yahoo board would like Icahn to stay out of the process and in the meantime Icahn would like to remove the entire board at the next shareholders meeting.

So what will the result be, there are nine places up for grabs. Maybe there will be five places from the existing board and four nominees to make up the nine or the current presiding board will remain. Only time will tell, so stay tuned.



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