Yahoo Shareholders Meeting Astoundingly Boring
With the exception of a lone crass question from an elderly shareholder who should know better, Yahoo’s annual meeting — the first under Marissa Mayer, the fourth CEO to run the company in the last five years — was largely an uneventful affair.
As expected, Yahoo shareholders re-elected all directors who stood for re-election and endorsed the company’s executive compensation plan. And, as expected, Mayer talked up the progress the company has made since she took the top job last July.
The most visible evidence of that is a spike in mobile users since the spring redesign of mobile email and Yahoo’s Flickr photo-sharing service. According to Mayer, Yahoo mobile email usage has increased 70 percent since it was overhauled in April, and photo uploads via the Flickr mobile app have risen 50 percent since its redesign last month.
“We want to build products that delight and inspire, because all of our growth starts with users,” said Mayer. “That leads to traffic and advertising and ultimately to revenue. … So we’re focused on making the world’s daily habits inspiring and entertaining.”
At $24.87, shares of Yahoo are up well over three percent in afternoon trading.