Yahoo CEO Faces Shareholder Backlash

[Omaha Steve]

Source: Associated Press

Yahoo CEO Faces Shareholder Backlash

Sunday June 10, 5:00 PM EDT

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."


Read more: http://money.excite.com/jsp/nw/nwdt_rt_top.jsp?news_id=ap-d8pm6dm00&

[entanglement]

1. Terry Semel was the highest paid CEO in the US not so long ago

Of course, he deserved every cent of it :sarcasm:

[Deja Q]

2. try http://www.ask.com instead of google

Looks like they've updated for the times.

http://www.ask.com

[zalinda]

3. Yup, he was just on 60 minutes

Let's see, I think he got $470 million last year. And, he thinks he's worth it, but he's not doing it for the money. So much money between he and his wife, Diane Von Furstenberg, that they could support a small country on their yearly salary.

zalinda

[1932]

4. Psst. She's married to Barry Diller, not Semel.

[zalinda]

5. Yeah, I know but Barry Diller owns

Ask.com. I'll stick to Google, Diller doesn't need any more money. At least the Google guys are doing something environmental with theirs.

zalinda