Yahoo CEO Semel Faces Shareholder Grilling – USATODAY

Andrew

Yahoo CEO Semel faces shareholder grilling – USATODAY.com: Lots of heat out on Yahoo this morning and more particularly over the compensation of their CEO Terry Semel, some are calling for a change to Yahoo’s compensation committee, especially in light of the whopping $71.7 million pay package that Yahoo CEO Terry Semel earned last year. According to a report, this was more than any other CEO amongst 386 publicly held companies covered in the Associate Press analysis of nation’s top corporate paychecks.

“Three shareholder advisory firms Institutional Shareholder Services, Glass, Lewis and Proxy Governance have all recommended opposing three directors who sit on Yahoo’s compensation committee. They are: Bostock, a veteran advertising executive; Burkle, a billionaire best known for his investments in the supermarket industry; and Kern, a former radio broadcast executive.

The firms concluded the trio should be punished for richly rewarding Semel despite Yahoo’s struggles. In 2006, Semel received a compensation package valued at $71.7 million more than any other CEO at the 386 publicly held companies covered in an Associated Press analysis of nation’s top corporate paychecks.”