Two pension funds with 16 billion dollar assets in total

June 25 News, according to foreign media reports, two of the total management of 16 billion dollar assets of the pension fund, Calvert and Christian Brothers Investment Services (CBIS), Has voted to remove all its directors before the annual shareholder meeting, which Yahoo will hold tomorrow.

Two organizations have made it clear that they want to improve Yahoo's corporate governance guidelines. Although the board of Directors has changed many times over the past few years, the decision to vote for the removal of each director still surprises the market.

10 of Yahoo's 11 directors were replaced by activist investor Daniel Le Boux Dan Loeb, who launched a proxy battle in 2012. Sue James, the longest-serving director, was a former partner at Ernst & Young Asset Management and joined the Yahoo board in January 2010.

James is the only surviving director of Yahoo's tumultuous period. In the meantime, the company replaced four CEOs altogether. The last CEO, Marissa Marissa Mayer, moved from Google to Yahoo last July, mainly to revive the ailing network business.

Last month, Ms. Mayer completed her first major takeover deal after Yahoo as CEO-spending 1.1 billion of dollars on a photo-sharing website Tumblr. In addition, Ms. Mayer has developed a controversial "ban on employees working from home" regulations, and has carefully cut about 1000 employees.

Meanwhile, Yahoo is trying to get out of a deal with Microsoft's search engine, even though the two sides are still signing a ten-year cooperation agreement.

Although Ms. Mayer has achieved a Tumblr acquisition and an increase in the efficiency of its operations, Yahoo's future development strategy is still not clear enough. Yahoo, once the darling of the tech industry, has lost its place. The market's sights have already converged on Google and Facebook.

Calvert and CBIs did not comment on the report.