Yahoo CEO Marissa Mayer, activist investor Jeffrey Smith most unpopular among shareholders

Many Yahoo shareholders don’t like activist investor Jeffrey Smith — but many more don’t like CEO Marissa Mayer.

As the struggling Sunnyvale company with a “for sale” sign out front set July 18 for its second-quarter earnings call, it has reported the results of its June 30 shareholders’ vote on board of directors nominees. Each share was worth one vote.

Mayer garnered by far the most votes against her presence on the board, with some 105 million votes opposing her reappointment. Smith, the Starboard Value chief whose proxy fight against Yahoo led to his placement on the board in April, received the second-highest number of “against” votes, with 93 million. The next-closest nominees in the “against” vote tally were company chairman Maynard Webb and Jane Shaw, a director since 2014, each with about 59 million.

Mayer and Smith, despite also earning the fewest “for” votes, still made it onto the board by comfortable margins — Mayer received about 555 million votes in support, and Smith 565 million.

The numbers suggest that shareholders felt especially compelled to cast votes on Mayer, who was the subject of fewer abstentions than any of the other 10 nominees, by about a 1.6 million-vote margin.

Mayer, who has faced a barrage of criticism over the past year for failing to revive the faltering Yahoo, had received far higher support in last year’s shareholder vote, garnering the second-highest number of “for” votes, about 618 million. Only about 6 million votes were cast against her last year, putting her close to the middle among board members.

 

Photo: Yahoo CEO Marissa Mayer (AP/NBC, Peter Kramer)

 

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  • PCFan

    so the love for the tech barbie is over?

    • Eddie Poe

      Between her and that gal from Theranos, the “superstar hot executive” days seem to be over. Business doesn’t care what you look like if you’re pissing away shareholder money.

  • tonyp385

    So does this mean she wants to sell yahoo and collect her profit and walk out before she is fired? Is there no chance of Yahoo not being sold and just fire her and find a new CEO?

  • Walking Fool

    Yahoo could have saved a lot of money by hiring me.

    I would have driven Yahoo into the ground almost as fast as Mayers, and for a lot less money.

  • localvocal

    It amazes me that the debacle named Marissa Mayer continues; is anyone aware that she was a huge FAIL at GOOGL as well?!

    • socialismisevil✓ᵛᵉʳᶦᶠᶦᵉᵈ

      shhhhh
      quiet

      grllllll power at work

      play along

  • socialismisevil✓ᵛᵉʳᶦᶠᶦᵉᵈ

    she has been horrible

    just another affirmative action type

 
 
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