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June 12, 2007, 8:32 pm
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Yahoo Terry Semel CEO's takes home over $70 million for past year?
SAN FRANCISCO Shareholders at Yahoo Inc. gave thumbs
down Tuesday to activist groups seeking to make changes to the
company's policies regarding executive pay and the privacy of Web users.
At the company's annual meeting in Santa Clara, Calif., shareholders
voted down a proposal that sought to tie executive pay with certain
The issue has become a point of controversy for the Internet portal
giant ( YHOO) and its chief executive, Terry Semel, who reportedly
took home more than $ 70 million in pay last year even as the stock
lost nearly 40% of its value - drastically underperforming the S&P
500 for the period.
The proposal sought to add a metric to calculating compensation "based
on beating peers." Yahoo has suffered in competing against rival
Google Inc. (GOOG) According to data from Nielsen/NetRatings, Yahoo
had a 21.9% share of the Internet-search market in April compared
to 55.2% share for Google.
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