Shareholder demands recount following Yahoo! AGM

One of Yahoo!’s largest shareholders, Capital Research Global, has demanded a recount of the number of votes cast against the re-elected chief executive Jerry Yang. The Yahoo! board and Yang were re-elected at the company’s AGM on August 1.

However, it has emerged that US research investment group, Capital Research Global, want a clarification of the number of shareholders who voted against Yang. Some investors are angry at Yang for snubbing Microsoft’s $48bn (£24bn) offer for Yahoo!

But despite friction with some shareholders Yang received 85% of the votes cast at the AGM last Friday.

Billionaire investor Carl Icahn, who had launched an attack on the Yahoo! board for not taking up Microsoft’s offer, is one of the shareholders understood to be unhappy with Yang at the helm.

Despite this he has struck a deal to be elected to the Yahoo! board. Icahn has prviously had talks with Microsoft over an attempt to oust the Yahoo! board.

The deal Yahoo! brokered with Carl Icahn means that the board will now be expanded from 9 to 11 members. The remaining two seats will be filled by recommendations sent by Icahn to the board’s nominating and governance committee.

His nominees include Jonathan Miller, a partner at Velocity Interactive Group and former chief executive and chairman of AOL. These seats will be filled by August 15.

Latest from Marketing Week


Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now


Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.


From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.


Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email

If you are looking for our Jobs site, please click here