Yahoo's board wins big endorsement by shareholders

Fri Aug 1, 2008 5:13pm EDT
 
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SAN JOSE, California (Reuters) - Yahoo Inc's board of directors received strong backing from shareholders at its annual meeting on Friday, with embattled Chief Executive Jerry Yang winning an 85 percent favorable vote.

Shareholders representing nearly 76 percent of Yahoo's 1.38 billion outstanding shares gave solid favorable votes to all nine of the company's current directors, in what represents a ringing endorsement of their tough stance with Microsoft Corp in this year's talks on a full or partial merger.

(Reporting by Eric Auchard; Editing by Braden Reddall)

 
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