Investors Give Yang Strong Backing

Yahoo! Inc's investors have thrown their weight behind the Internet company's board, with 85 percent of votes supporting Chief Executive Officer Jerry Yang after he fought off a proxy fight with Carl Icahn.

Each director received at least 77 percent of the votes cast, Yahoo said Friday after its annual meeting. Icahn was appointed to the board after the vote, Bloomberg News reported.

The result gives Yang a boost after he drew criticism for passing up a US$47.5 billion takeover offer from Microsoft Corp. Yang, who co-founded the company in 1995 and took over as CEO last year, said that Yahoo's Internet advertising strategy was on the verge of paying off.

Chairman Roy Bostock received about 80 percent of the votes, Yahoo said. Director Arthur Kern received the lowest number, with 78 percent.

Source: American Shipper