yahoo shareholders back revamped board
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Yahoo, shareholders back revamped board

Arab Today, arab today

Arab Today, arab today Yahoo, shareholders back revamped board

Washington - AFP

Yahoo! shareholders on Thursday endorsed the struggling Internet firm's overhauled board of directors and called for a fresh plan to compete against rivals such as Google and Facebook. Voting at the California company's annual gathering of stockholders took only minutes, with the 11 members of the Yahoo! board approved along with a set of proposals that included compensation for top executives. Eight of the directors have been on the board for less than six months and were added as the result of a battle with activist investor Daniel Loeb, who won seats for himself and selected allies. There was no announcement about a new chief executive despite intense speculation that interim CEO Ross Levinsohn would be tapped for the job. "The past year has been one of significant change among the leadership of the company," Levinsohn told shareholders at the gathering in a hotel near the company's headquarters in the city of Sunnyvale. "We have made meaningful progress to move Yahoo! forward." The progress included partnerships with major television and radio companies as well as online music service Spotify, said Levinsohn. Yahoo! boss Scott Thompson was ousted less than two months ago in the face of controversy about an inflated resume, resulting in a truce in a proxy war with shareholder Loeb. "In the last five to 10 years, we have missed some serious opportunities to monetize online properties including search and that has disappointed shareholders," a stockholder told Levinsohn during the meeting. Levinsohn repeated the vision of becoming a "premier digital media company" that capitalizes on its audience of approximately 700 million monthly visitors through advertising on content ranging from finance to celebrity gossip. "A strategy based on becoming the world's biggest tabloid is not sustainable," complained a shareholder during a question-and-answer session with executives. "You are behind the ball, and you've been behind the ball regardless of which CEO show up," he continued. "As a consumer I have given up on this company." Levinsohn countered that the strategy of combining high-quality content from partners with Yahoo! generated programming -- the company launched its own White House bureau for US election coverage -- shows promise. "I am enthusiastic about what we can achieve," Levinsohn said. "We are working hard to expand the content and programming we offer our users on every screen and the ability of advertisers to reach the users they covet." Yahoo! told shareholders that they would be the beneficiaries of at least $4 billion the company expects to receive later this year as a result of a deal to sell a chunk of its stake in Chinese e-commerce titan Alibaba.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

yahoo shareholders back revamped board yahoo shareholders back revamped board

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

yahoo shareholders back revamped board yahoo shareholders back revamped board

 



GMT 18:57 2016 Wednesday ,05 October

Hollywood icon Robert De Niro arrives this weekend

GMT 08:49 2017 Friday ,28 April

Press cooperation protocol signed

GMT 04:01 2017 Friday ,24 November

Lebanon's Hezbollah hails 'positive' Hariri moves

GMT 16:39 2017 Wednesday ,06 September

Dolphins-Buccaneers NFL game called off as Hurricane Irma

GMT 12:55 2017 Sunday ,19 February

Day 1 Asian Winter Games medal table

GMT 10:01 2016 Tuesday ,16 August

Bayer could launch hostile bid for Monsanto

GMT 02:09 2017 Wednesday ,18 October

December22nd-January20th

GMT 12:53 2017 Tuesday ,22 August

Mahmoud informed on AAAID performance

GMT 11:45 2017 Thursday ,20 April

Expo Turkey by Qatar begins

GMT 09:59 2017 Tuesday ,25 April

A chaotic discovery of power

GMT 20:52 2017 Thursday ,27 April

Iraqi forces liberate Mutaibaija area from IS
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday