Bartz and a tale of two Yahoos

Listening to Yahoo CEO Carol Bartz on Thursday illustrated a tale of two companies: The one the company's board of directors and CEO saw and the one shareholders were griping about.

Bartz presentation revolved around the progress Yahoo has made. For starters, the company revamped its technology infrastructure. The company also improved normalized earnings, is top 3 in most categories and lands more video viewers than Hulu.

And Yahoo is solidly behind Bartz. Yahoo Chairman Roy Bostock said the board was "very supportive of Carol and the management team." But 20 percent of shareholders weren't all that supportive. Bartz and Bostock landed 80 percent of the shareholder votes for new board terms. Other board members landed 90 percent of the vote.

At times Bartz sounded bummed---especially when told a search for her replacement was needed. Rumors had swirled that Yahoo was looking for a replacement. A Yahoo representative told CNET News that there is no search to replace Bartz and that rumors are "categorically untrue."

Overall, Bartz was upbeat about Yahoo's properties. She noted that the company is alone as a premier digital media property.

As already previously, Yahoo is focused on personalization, mobile and driving engaging content.

Here are Bartz's money slides to justify her side of the story: