As the Associated Press reports, Yahoo’s board (including company president Sue Decker, pictured above) emerged largely unscathed from its annual meeting Friday, as a muted mob of shareholders raised few questions about the board’s rejection of Microsoft’s $47.5 billion takeover bid.
“Some shareholders expressed displeasure by opposing the re-election of Yahoo’s current directors, but the resistance wasn’t as intense as last year, when three directors were rejected by more than 30 percent of the vote.”
The report said that many investors already made their displeasure known by simply selling off their Yahoo holdings, which was enough to cause the stock to plunge 31 percent since Microsoft withdrew its buyout offer in May.
On the other hand, things may have been quiet because Yahoo only allowed 35 minutes for a total of nine shareholder questions. “It seemed like they were more interested in going to lunch than hearing from shareholders,” said Martin Baker, a former Yahoo employee and San Francisco resident.
(Image credit: AP/Paul Sakuma)