Glass Lewis Recommends 'No' Vote On Bostock, Two Others; Slams Yahoo Severance Plan

This story was written by Joseph Weisenthal.
This may be too late to have any real impact, but it does come as something of a surprise proxy firm Glass Lewis recommends shareholders vote against the reelection of Yahoo Chairman Roy Boystock, and directors Ron Burkle and Arthur Kern. What do the three have in common? As MarketWatch reports, all three were on the compensation committee, which implemented the controversial severance plan. Glass Lewis even described the plan as a "quasi-poison pill." The firm also noted Yahoo execs are paid more than their peers, but that they've performed worse. There sill hasn't been a formal announcement from the other major proxy advisory service, ISS. Could this announcement have made a difference had it come out last week? Maybe. But at this point, with Icahn signed onto the current compromise board, this looks like a technicality.

By Joseph Weisenthal