The stockholders also approve the appointment of PricewaterhouseCoopers as Yahoo’s independent registered public accounting firm but rejected the proposed pay-for-superior performance principle for executive compensation, policies on Internet censorship and creation of a Board committee on human rights.
Final words from Roy Bostock:
“We now look forward to executing on our strategy and continuing to build our great Company. Last year, Yahoo!’s Board of Directors and management took steps to thoroughly reexamine the Company’s direction and to improve the Company’s performance. Since then Yahoo! has made significant strides in executing on its strategy, performing particularly well in light of the challenging circumstances of the past six months. Our Board looks forward to continuing to work with management to maximize value for all stockholders.”
And Mr. Yang’s concluding words:
“We are at a unique point in our history, where we have the eyes of the world focused on our Company and tracking our performance. We are redoubling our commitment to driving sustained, profitable growth for our stockholders. The value inherent in Yahoo!’s unique collection of assets is truly extraordinary, and the progress we’ve made on our initiatives this year signals our ability to capitalize on the underlying potential of these assets.”
There, all’s well that ends well. Next up, the two board members that would fill the approved additional seats. We’ll know about that come August 15.