More troubles for Terry Semel

June 7, 2007
by Latitude

I blogged recently about the exodus of top talent at Yahoo, and on speculation that CEO Terry Semel might find himself being strongly encouraged to take early retirement. Now the San Jose Mercury News (via Search Engine Land) is reporting that two independent proxy advisory firms are asking to shareholders to vote against the reelection of three of the board members who are responsible for approving Yahoo’s CEO, Terry Semel, $71 million compensation package.

“Mr. Semel’s stock options grant is particularly troubling in light of the company’s recent poor stock performance and corporate performance,” ISS stated. Yahoo realized a 60 percent decrease in net income; with a slow in revenue growth and 35 percent drop in the stock price in 2006.

Yahoo’s annual stockholders’ meeting takes place on Tuesday, June 12. If you want to see some fireworks, you might want to tune in for the live webcast. I hope Terry Semel has as relaxing a weekend as he possibly can; he’s going to need his strength for next week.