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Chief executive Jerry Yang won the backing of 85% of investors at Yahoo's annual meeting in California.
Some investors had criticised the firm's failure to agree a deal with Microsoft, which had offered to buy the internet firm for $47.5bn (£24.1bn).
During the meeting, one called on chairman Ray Bostock to resign.
Shareholder Eric Jackson of Ironfire Capital - one of 150 investors at the meeting - said Mr Bostock "should do the honourable thing and step down from the board".
He accused the Yahoo boss of overplaying his hand with Microsoft.
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