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Yahoo Nominates Directors and Reschedules Annual Meeting

3:21 pm on May 23, 2008 (gmt 0)

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Yahoo Inc on Thursday nominated nine of its 10 existing directors for re-election to the company's board, setting the stage for a showdown with dissident shareholders at its annual shareholder meeting.

Yahoo postponed its annual meeting from July 3 and said it expected to hold it at the end of July.

The Internet media company also disclosed in a regulatory filing that shareholders other than billionaire investor Carl Icahn plan to nominate candidates to its board.

Yahoo Nominates Directors and Reschedules Annual Meeting [reuters.com]