Yahoo CEO Faces Shareholder Backlash

Iria · Jun 10, 2007, 10:48 PM

Source: Breitbart.com
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SAN FRANCISCO (AP) - Just before Google Inc. went public nearly three years ago, Yahoo Inc. Chairman Terry Semel assured a roomful of securities analysts and money managers that his company would remain the Internet's brightest star. To punctuate his high hopes, Frank Sinatra's "The Best Is Yet to Come" played in the background.

Google has so thoroughly eclipsed its rival since then that a growing contingent of Yahoo shareholders believes the company would be better off without Semel, who could face a chorus of discontent when he takes the stage at Yahoo's annual shareholders meeting Tuesday.

Even as it has struggled, Yahoo has continued to pay Semel like a rock star—yet another sore point for frustrated shareholders.

"The company is drifting," said Eric Jackson, who intends to confront Semel during the meeting on behalf of about 80 Yahoo stockholders who own a combined 2 million shares in the Sunnyvale-based company. "And its problems ultimately lie at Terry's feet."

Jun 10, 2007, 10:48 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Yahoo CEO Faces Shareholder Backlash Source: Breitbart.com ________ SAN FRANCISCO (AP) - Just before Google Inc. went public nearly three years ago, Yahoo Inc. Chairman Terry Semel assured a roomful of securities analysts and money managers that his company would remain the Internet's brightest star. To punctuate his high hopes, Frank Sinatra's "The Best Is Yet to Come" played in the background. Google has so thoroughly eclipsed its rival since then that a growing contingent of Yahoo shareholders believes the company would be better off without Semel, who could face a chorus of discontent when he takes the stage at Yahoo's annual shareholders meeting Tuesday. Even as it has struggled, Yahoo has continued to pay Semel like a rock star—yet another sore point for frustrated shareholders. "The company is drifting," said Eric Jackson, who intends to confront Semel during the meeting on behalf of about 80 Yahoo stockholders who own a combined 2 million shares in the Sunnyvale-based company. "And its problems ultimately lie at Terry's feet."