Yahoo! Inc. (YHOO)’s New Board Members include Former Wal-Mart Stores, Inc. (WMT) CEO


Yahoo! Inc. (NASDAQ:YHOO) Annual shareholders meeting was schedule to be held on June 25, 11 a.m., ET at Santa Clara. CNBC’s Julia Boorstin reported key outcomes of Yahoo! Inc. (NASDAQ:YHOO) Annual shareholders meeting.

Yahoo! Inc. (NASDAQ:YHOO), Live Nation Entertainment, Inc. (NYSE:LYV), Wal-Mart Stores, Inc. (NYSE:WMT), Marissa mayer, Katie Couric, Lee Scott

The Shareholders meeting kicked off right on time. Marissa Mayer, CEO of Yahoo! Inc. (NASDAQ:YHOO) took the stage and spoke about her turnaround plan for Yahoo! Inc. (NASDAQ:YHOO), her focus was on social mobile native ads and video. She also talked about what she has accomplished, noting growth in mobile traffic, which increased to 430 million users and the fact that Tumblr goes 183 million blogs.

Mayer said that Yahoo! Inc. (NASDAQ:YHOO) has transformed into a more appealing place to work with job applicants doubling from 2012 to 2013. She also discussed her investment in engineering and content with new hires, including Katie Couric, Global news anchor, Yahoo News.

Mayer also spoke about the new Android app Aviate, which is an intelligent home screen designed to organize your app and make suggestions about what apps you may want to use based on what other users are doing.

Mayer’s another announcement highlighted Yahoo! Inc. (NASDAQ:YHOO)’s commitment to content. She said that it would start in July as part of the partnership with Live Nation Entertainment, Inc. (NYSE:LYV), Yahoo! Inc. (NASDAQ:YHOO) will broadcast one live concert a day, and as expected, all of the company’s proposals were approved by shareholders. The shareholders also elected 4 new members to the board, including former Wal-Mart Stores, Inc. (NYSE:WMT) CEO Lee Scott.

Jat Capital Management is a key investor in Yahoo! Inc. (NASDAQ:YHOO) with over 7.5 million shares as of 31st march 2014. Other key investors include Farallon Capital with approximately 5.7 million shares and Cadian Capital with about 4 million shares.

Yahoo is now looking to become a content oriented company and the company’s CMO Kathy Savitt confirmed this recently.

Disclosure: None