Yahoo's investors threw their weight behind the internet company's board on Friday, with 85% of votes supporting chief executive officer Jerry Yang after he fought off a proxy fight with Carl Icahn. Each director received at least 77% of the votes cast, Yahoo said after its annual meeting. Icahn was appointed to the board after the vote.
The result gives Yang a boost after he drew criticism for passing up a $47.5 billion takeover offer from Microsoft. Yang, who co-founded the company in 1995 and took over as CEO last year, said on Friday that Yahoo's internet advertising strategy is on the verge of paying off.