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
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...   (Associated Press)
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(Newser) – 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.