Critical shareholder seeks to examine votes
Last modified on Tuesday, 05 August 2008 07:57
Yahoo shareholder Capital Research Global Investors, one of Yahoo Inc.’s most critical shareholders and also one of its largest shareholders, has asked for a probe of the recent Yahoo shareholder vote.
Capital Research Global Investors claims that it does not believe the voting was accurate in showing strong support for Yahoo’s CEO, Jerry Yang. After the bungled handling of the Microsoft buyout many shareholders had expressed a lack of support for Yang’s leadership and even a desire to oust him, yet last week’s shareholder vote seems to have shown strong support for him.
The shareholder vote was reported as being 85 percent in support of Yang and his team’s leadership. Capital Research Global Investors said they believe something is awry, as there should have been more than 15 percent opposed to Yang.
Yahoo issued a statement that it was not aware of any errors that occurred in the shareholder voting. Stay tuned, we have a feeling this is not the end of this story.