Advisors: Oust Yahoo Directors Over CEO Pay

Law360, New York (June 8, 2007, 12:00 AM EDT) -- Three Yahoo, Inc. board of directors responsible for giving CEO Terry Semel an allegedly bloated pay package despite the Internet company's meager performance should not be reelected at a shareholder meeting Tuesday, independent proxy advisory firms said.

Institutional Shareholder Services has recommended that shareholders vote against reelecting compensation committee members Arthur Kern, Roy Bostock and Ronald Burkle for granting Semel a three-year retention agreement with a “mega” stock option grant of 6 million shares with an estimated value of $92 million, according to ISS. As part...
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