Revised tally shows less support for Yahoo's board
www.chinaview.cn 2008-08-06 13:06:54   Print

    BEIJING, Aug. 6 (Xinhuanet) -- Yahoo's revised tally shows that support for its board is far weaker than it appeared in the miscount when some 200 million votes were mistakenly cast, according to media reports Wednesday.

    The miscount came to light after Capital Research Global Investors, which owns 6.2 percent of Yahoo's stock, suspected something was amiss and called for an audit of votes cast on its behalf by intermediary Broadridge Financial Solutions.

    The new results strongly reflect Yahoo shareholders are disenchanted with chief executive Jerry Yang, board chairman Roy Bostock and other board members who failed to consummate a tie-up with Microsoft that would have gotten them 33 dollars per share.

    Bostock got the least support, with 60 percent of votes in favor of his re-election in stead of the 80 percent reported in the miscount and only 34 percent "withheld" votes for Yang.

    Two other directors were erroneously given the support of 100 million votes each. About 38 percent withheld for director Ron Burkle and 32 percent withheld for Arthur Kern.

    A fifth board member, Gary Wilson, the former chairman of Northwest Airlines, had 28 percent of votes on his reelection withheld.

    In a statement, Broadridge said the error was an isolated incident and that it did not change the outcome of the election of the company's directors.

    (Agencies)

Editor: Bi
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