Yahoo shareholder meet ends tamely

With the recent agreement between the Yahoo board and the shareholder challenge of Carl Icahn which gave Carl 3 seats on the board, the issues confronting Yahoo in terms of shareholder challenge seem to have died down. Otherwise why would the proceedings from the Yahoo board meeting end like this ?

It's almost as if the past six months never happened. Yahoo's much anticipated annual meeting on Aug. 1 left its current board and co-founder and Chief Executive Jerry Yang intact, in control, and still insisting they can return to contention with runaway rival Google. Despite rampant shareholder anger that the Internet icon couldn't close any of a series of deals with Microsoft since the software giant's unsolicited $45 billion buyout bid Feb. 1, the long-delayed annual meeting was remarkable mostly for how little happened.
Nonetheless, the vote still indicates that a significant portion of shareholders remain dissatisfied with Yahoo's direction. The most pointed criticisms during the meeting came from Eric Jackson, who runs a Florida-based firm called Ironfire Capital He called for Bostock and two other directors to step down and for Yang to give up the CEO seat to a more experienced executive. "They're basically saying, 'Believe in us,'" Jackson said after the meeting. "There are too many people who have been there too long and we need new management from outside."

I don't think that this is the last anyone has heard of this entire issue. Yahoo is not likely to be able to outwit Google, and shareholders will remain dissatisfied with the performance and the share prices. Future revolts cannot be ruled out.