On Friday, during Yahoo Inc.’s annual meeting in San Jose, the company’s board was re-elected by investors. Jerry Yang, Chief Executive Officer, received 85 percent of the votes and Chairman Roy Bostock was re-elected with almost 80 percent of the votes. The lowest percentage was recorded by Yahoo director Arthur Kern, who only got 78. If any of the candidates would have received more than 50 percent against votes, they would have been forced to resign.

The board will soon be expanded from nine to eleven members; the new directors will be appointed by August 15.

Since June 2007, when Jerry Yang started taking care of business, Yahoo stock went down by 30 percent. Moreover, according to market research company ComScore Inc. in Reston, Virginia, Yahoo’s share of the US Web-search market also went down by 4 points from 25.1 percent.

Jerry Yang said Yahoo is very close to seeing the results of its Internet advertising strategy. He added that the company was still going through a massive transformation process and he singled out the Internet as the industry that is continuously growing its advertising revenues.

Sue Decker, Yahoo President, also said a few words during the meeting. She mentioned that Yahoo was working on a new platform that would significantly improve the way advertisers can buy ads on all of Yahoo’s property. Everything is expected to be wrapped up later on this quarter.