Kara Swisher

Recent Posts by Kara Swisher

Yahoo Shareholder Vote: Old Board Stays Put (While AOL Makes Another Boneheaded Move!)

After its annual meeting today, as its board members had lunch together, Yahoo released the results of its shareholder vote and it seems we will still have CEO Jerry Yang to kick around some more.

Yang garnered 85.4 percent of the shares to stay on as a director of the Internet company, with 14.6 percent withheld.

While having almost 15 percent of your investors think you are not worthy is not good, it is also not nearly as bad as it could have been.

In fact, overall results are actually better than last year. Thus, being attacked by Microsoft (MSFT) and activist investor Carl Icahn has had a dulcet effect on Yang’s image.

Yahoo Chairman Roy Bostock fared worse, grabbing only 79.5 percent of the yes vote, with 20.5 percent withheld.

Yahoo (YHOO) stockholders dinged three outside proposals: a pay-for-superior-performance principle for executive compensation, the establishment of policies on Internet censorship, and the creation of a board committee on human rights.

The board also officially put Icahn in the seat vacated by Activision (ATVID) CEO Robert Kotick (whose vote was among the best, ironically, with 92.4 percent for and 7.6 percent withheld).

It also expanded the board to 11 from 9, but will not announce the two new members until Aug. 15.

Former AOL head Jon Miller, who was one of the likely picks, is apparently being blocked by Time Warner via a noncompete agreement. Miller was bounced from AOL some years ago.

Miller was called directly by Time Warner (TWX) CEO Jeff Bewkes last night, sources said, and was told by Bewkes, “We’ve changed our mind.”

More on this idiotic development from the AOL owner next.

Until then, here are the pertinent stats on the Yahoo vote:

Roy J. Bostock (Shares for: 832,023,657/79.5%; Shares Withheld: 214,071,927/20.5%)

Ronald W. Burkle (849,373,291/81.2%; 196,722,293/18.8%)

Eric Hippeau (948,862,579/90.7%; 97,233,005/9.3%)

Vyomesh Joshi (971,594,650/92.9%; 74,500,934/7.1%)

Arthur H. Kern (814,871,925/77.9%; 231,223,659 /22.1%)

Robert A. Kotick (967,044,818; 92.4%; 79,050,766/7.6%)

Mary Agnes Wilderotter (964,939,727/92.2%; 81,155,857/7.8%)

Gary L. Wilson (856,006,576/81.8%; 190,089,008/18.2%)

Jerry Yang (893,055,602/85.4%; 153,039,982/14.6%)


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