Investors Clash With Yahoo CEO

Stockholders blast chief for $107M payday; nix change on company's China policy
By Dustin Lushing,  Newser Staff
Posted Jun 13, 2007 10:34 AM CDT
Investors Clash With Yahoo CEO
A woman walks past a Yahoo billboard in a Beijing subway in this March 17, 2006 file photo. A court has ruled against Yahoo Inc.'s China arm in a lawsuit by recording companies over music piracy, a state news agency said Tuesday, April 24, 2007, amid U.S. pressure on Beijing to crack down on widespread...   (Associated Press)

Investors railed yesterday against Yahoo Inc.'s management team in an unusually rowdy session of the search engine's annual shareholders' meeting. Angry investors interrogated CEO Terry Semel over his $107.5M paycheck and the company's slumping stock price, which fell 9% in the last year. A third of shareholders mutinied in protest, voting against the company's otherwise uncontroversial proposed slate of directors.

A proposal to halt Yahoo's censorship of its Chinese portal also fell short, receiving only 15% of votes. Watchdog groups have chided the web portal for "de-listing" certain websites from its Chinese-language version, and for providing copies of political dissidents' e-mails to the Chinese government. (Read more Yahoo stories.)

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