Yahoo Recount: Yang, Bostock Still On Board But Disapproval Much Higher Than First Reported
By Joseph Weisenthal - Tue 05 Aug 2008 02:04 PM PST
The recount is in at Yahoo (NSDQ: YHOO) and the decline in support for key figures was not trivial at all. The percentage of shares withheld for Roy Bostock basically doubled to 39.6 percent from 20.5 percent. Votes withheld for Yang grew to 33.7 from 14.6 percent. Does it change the actual outcome? No. But the difference is still pretty significant. The prior numbers would have represented a resounding mandate in favor of the current management. The new numbers show that shareholders representing a considerable share of the overall pie are disappointed. The other big losers were Ron Burkle, whose support declined from 82 percent to 62.1 percent and Gary Wilson, whose support fell from 82 percent to 72.3 percent. Everyone else was unchanged.
The question is whether any of this matters. Had these numbers come out on Friday, the stories might have been different. But the dominant narrative was that management won a mandate to stay on. Release.
Tags: jerry yang, roy bostock,
