Jerry Yang has been re-elected as Yahoo's chief executive are received the backing of 85 percent of investors at the company's annual meeting last week.

Carl Icahn, the billionaire investor who tried to instigate a re-shuffle of Yahoo's board, did not attend the meeting, after being offered a place on the board two weeks ago, providing he agreed to support those up for re-election.

Chairman Roy Bostock may have helped diffuse the concerns at the start of the meeting by commenting on the way Yahoo handled Microsoft's attempted acquisition. He said: "There was never a deal put on the table that was compelling enough that we, as the board, could look the shareholders in the eyes and say this is a good deal for you."

Some shareholders did have terse words for the board however. One suggested that Bostock "do the honorable thing" while another said in an interview before the meeting that he had been "ecstatic" the morning Microsoft made its offer to buy Yahoo, and criticised the board for fumbling the deal. However, in the end there were fewer fireworks than some had expected.