Yahoo board supports Carol Bartz even though she failed to help the company

Roy Bostock, chairman of Yahoo Inc said he is supportive of keeping Carol Bartz a CEO of Yahoo in spite of the fact she has been heavily criticized over the past time for incompetence to raise company’s revenues.

At a shareholders meeting Thursday Bostock said he was confident that the company was headed in the right direction and that Bartz had put Yahoo on a "clear path forward to accelerated revenue growth."

While Bartz, who has 18 months left for her management contract, has significantly reduced costs and increased profit margins, she failed to revive revenue growth.

At a meeting investors expressed their dissatisfaction and frustration with her work. One attendee openly attacked the company’s record.

"It's time to speak up and demand some change," said the attendee, who described himself as a personal investor and an adviser to institutional investors owning "millions" of Yahoo shares.

"The tone of this meeting, you would think the stock is at a 52-week high. You would think that the stock hasn't languished for three years, despite the market and Internet peers exploding," he said, calling for the company to replace Bartz as CEO and to consider breaking up or selling the company.

Bostock said that the board is "very supportive" of Bartz and Yahoo's management team.