Yahoo getting Carl Ichan on side with them may not be able to keep shareholders happy going into their shareholder meeting today. There is reason to assume that this meeting is going to be rocky. Last year, ticked off investors took Yahoo CEO Terry Semel to task because of the company’s sub-par performance and lucrative compensation awards. A week later Semel resigned from his executive post, and Jerry Yang became CEO.
A year later you have a Yang led Yahoo who had an on again off again dance with Microsoft and battles with Carl Icahn. Chances are, shareholders are going to be less happy this year than they were last year. Oh yeah, Icahn has already noted in his blog that he won’t be there to have Yang’s back. To top it off, there will be a few groups who will argue that people should withold votes to re-elect the board. While one would think that because of the institutional investors the Yahoo board has enough votes to get re-elected, this is an indication of how ticked investors are.
We’ll see what happens later today. Expect lots of fireworks.