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Major Yahoo Shareholder Wavering on Support: Report

Published: Monday, 28 Jul 2008 | 6:48 AM ET

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By: CNBC.com

Yahoo's second-largest shareholder is considering withholding votes for Chairman Roy Bostock and CEO Jerry Yang as disappointment over the Internet company's decision to shun a merger with Microsoft [MSFT Loading... () ] continues to create a rift among stakeholders, the New York Post reported.

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Yahoo Headquarters

Gordon Crawford of Capital Research and Management, who owns a 6.5 percent stake in Yahoo, is still enraged with Bostock and Yang, despite a previous dispute with activist investor Carl Icahn being resolved, the paper said.

Crawford could make his feeling know at Friday's annual meeting by withdrawing support for the executives, the paper said, citing sources close to the fund manager.

Because the proxy contest with Icahn has now been resolved, shareholders won't be able to vote out board members, but another high-profile dissent could send out negative signals to investors and hurt Yahoo's [YHOO Loading... () ] share price.