Yahoo today held its annual shareholder meeting. And although the company touted its growth in some areas, it failed to discuss some of the hot-button issues on the minds of investors.
That was made clear by a shareholder who took aim at Yahoo CEO rumors that Yahoo's board of directors is secretly considering replacing Bartz with another CEO.during the meeting's question-and-answer session. The investor told Bartz that he wanted to discuss "the elephant in the room"--namely, recent
Yahoo failed to discuss the rumor during the investors meeting, though chairman Roy Bostock said that the board "is very supportive of Carol and the management team."
Citing Yahoo's sub-$15 stock price, the investor told Bartz that the search for her replacement should be "expedited," and a replacement must be named sooner rather than later.
Bartz, seemingly perturbed, thanked the man for his statement and said that it was "certainly a downer."
What about Hulu?
Earlier this week, the Los Angeles Times cited a source who claimed Yahoo had approached Hulu to acquire the video provider, though details related to the deal were not disclosed. Hulu wasn't considering a sale at the time of the bid, but it has now reportedly enlisted the help of two investment banks to find a potential suitor.
Bartz stopped short of discussing a Hulu buyout at today's investor meeting, but she did mention the company when discussing Yahoo's shows. Bartz said that "8 out of the top 10 original video programs on the Web" come from Yahoo and the company's entire catalog of 20 Web shows "have more viewers than all of Hulu."
Aside from video, Bartz discussed several important metrics that she believes shows Yahoo is performing well across the Web. The CEO said the company now has 680 million users around the world. Nine of the company's properties, including Yahoo Finance and Yahoo Sports, are the most-popular Web sites in their respective focus areas, helping to make Yahoo.com the top U.S. Web property, she said.
"We stand alone as a premier digital-media company," Bartz said during her remarks.