• TechCrunch, Tuesday, July 29, 2008 11:30 AM

Somehow, in the midst of the Microhoo mess, Yahoo CEO Jerry Yang has managed to keep his job, withstanding months of shareholder ire over the botched deal, and even outlasting the scary advances of corporate raider Carl Icahn, who he and the Yahoo board settled with 10 days ago.

Nevertheless, TechCrunch's Erick Schonfeld says that Friday's shareholder meeting will be no cakewalk for Yang, as he may still need to win over the company's largest shareholder, the Capital Group, which owns 16% of the company through two funds: Capital World Investors and Capital Research Global in Investors. Recently, Gordon Crawford, who runs the latter, told The New York Post that he is still unhappy with the way Yahoo is being run, and may side against some of its directors in Friday's vote, including Yang and chairman Roy Bostock. As Schonfeld points out, it's not inconceivable to think that the Capital Group would vote as a block.

This would be a largely symbolic move, as no organized shareholder revolt is expected, but Schonfeld says Crawford could certainly use his clout to negotiate some of his own conditions-that is, anything to bump up the company's flagging stock price, maybe even replacing Yang.

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