Yahoo shareholders didn't exactly give a ringing endorsement to Marissa Mayer this week
Yahoo CEO Marissa Mayer's failure to turn around the company has frustrated a lot of investors in recent years.
That loss of support was perhaps most apparent in the number of "against" votes she received for board re-election at the company's annual shareholder meeting held on Thursday.
According to regulatory filing on Friday, Mayer has received 104.9 million votes that opposed her return to the company's board of directors. That's over 15% of the total votes.
In fact, Mayer was the only board member to receive over 1 million against votes, showing the waning support for her leadership that's now in its 5th year.
Ironically, Jeffrey Smith, the activist investor who joined Yahoo's board this year after pressuring the company to sell, drew the second most "against" votes, according to the filing. Nearly 93 million votes were against his position on Yahoo's board, which shows there may be tension between Smith's camp and Mayer supporters.
Here's the breakdown of the votes:
- I quit McKinsey after 1.5 years. I was making over $200k but my mental health was shattered.
- Some Tesla factory workers realized they were laid off when security scanned their badges and sent them back on shuttles, sources say
- I tutor the children of some of Dubai's richest people. One of them paid me $3,000 to do his homework.
- Why are so many elite coaches moving to Western countries?
- Global GDP to face a 19% decline by 2050 due to climate change, study projects
- 5 things to keep in mind before taking a personal loan
- Markets face heavy fluctuations; settle lower taking downtrend to 4th day
- Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’