Yahoo coverage revisited
When the initial results from Yahoo’s shareholder votes were released last Friday, much of the coverage was positive for CEO Jerry Yang and other board members… “Criticism Is Sparse” read one headline in The Wall Street Journal.
The article continued:
Shareholders overwhelmingly endorsed the board, with Yahoo Chairman Roy Bostock receiving a 79.5% favorable vote, up from roughly two-thirds last year. Some 85.4% of votes were cast in support of Chief Executive Jerry Yang, down from more than 90% last year but still a strong endorsement for a leader who has faced calls for his resignation.
Very glowing.
Now, after vote counting errors were discovered and corrected, we know the truth. Shareholders voiced strong concern about the board, with Chairman Roy Bostock having lost support, instead of gaining. Jerry Yang saw his approval plummet from 90% last year to 66% this year… hardly “a strong endorsement.”
A quick scan of today’s headlines reads much more harshly:
Shareholders Disgusted With Yahoo! Board (Forbes)
Yahoo! admits true scale of shareholder rebellion against Yang (Guardian)
Another Way to Measure Discontent Among Yahoo Shareholders (NY Times)Hit the Breaks on the Yahoo! Lovefest (Motley Fool)
