Yahoo's Controversial Board Appointment Dominates Shareholder Meeting
Yahoo's 2013 successes were overshadowed during its shareholder meeting by the controversial appointment of former Walmart CEO H. Lee Scott to its board.Another shareholder noted that the Yahoo board "doesn't include a single person of color." Lee is white, and so are Charles Schwab Jr. and David Filo, the other men who were voted onto the board during the meeting. The board, this person pointed out, "needs a member who can help overcome, rather than reinforce, inequities." Webb responded that Yahoo puts diversity "front and center" and that "30 percent of the board members are women." (CEO Mayer and retired Ernst & Young partner Sue James, also a white woman.) He added that Yahoo will "continue to work on this important topic."
Yahoo's Year of ProgressRepeating something of a Yahoo mantra, Mayer opened her presentation by saying that Yahoo's mission is to "make the world's daily habits inspiring and entertaining." The average mobile device user checks his device 150 times a day, said Mayer, adding, "The opportunity to participate in that is tremendous." The plan to participate involves a cycle, she said: Hire great people, who build engaging products, which lead to increased traffic, which lead to increased revenue.
"Nothing is too small [to help make a difference]," she said. "It all builds toward a better culture." Follow Michelle Maisto on Twitter.