Yahoo shareholders approve 2 new directors picked by company to fill board vacancies
By APThursday, June 24, 2010
Yahoo shareholders elect 2 new directors
SUNNYVALE, Calif. — Yahoo Inc.’s shareholders on Thursday elected two new directors nominated by the Internet company to fill vacancies on its board.
Both the new board members are CEOs at other technology companies: Brad Smith leads personal finance software maker Intuit Inc. and Patti Hart runs slot machine manufacturer International Game Technology.
Smith, 45, and Hart, 54, are stepping in for two Yahoo directors, John Chapple and Ronald Burkle, who had previously announced they would not seek to be re-elected at Yahoo’s annual meeting held Thursday.
The shareholders re-elected eight other directors already on Yahoo’s board, including CEO Carol Bartz, company co-founder Jerry Yang and Chairman Roy Bostock.
Bartz has shaken up Yahoo’s board along with the company’s management team since she was hired nearly 18 months ago to steer a turnaround. Five directors have left Yahoo’s board since Bartz’s arrival.
Yahoo shares fell 40 cents, or 2.6 percent, to close at $14.83.
