Yahoo CEO Marissa Mayer's Head May be on the Chopping Board
Staff Reporter | | Dec 01, 2015 09:39 PM EST |
(Photo : Getty Images) Yahoo president and CEO Marissa Mayer speaks during the Fortune Global Forum on November 3, 2015 in San Francisco, California.
Marissa Mayer has been trying to turn things around for Yahoo for years. Now, it seems that things are turning pretty negatively for the CEO, as investors are dissatisfied with the futile attempts at reviving the former Internet giant.
CBS news reports that despite having spent billions in acquiring possible assets and other projects, Mayer hasn't yet succeeded in leading the company out of its financial crisis. Instead of rising, Yahoo's shares suffered from a near 35 percent blow this year alone.
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This, according to CNN Money, caused many on Wall Street to be exasperated with her promised turnaround. Apparently, people are longing for real results, and are speculating that Mayer's head will be chopped off Yahoo by the board.
Some of Yahoo's senior executives have already left the company. Fortune reports that in the past year, more than a dozen have left, despite Mayer asking them to stay with the company for some more time.
Because of this, many have been wondering if her position is really stable. Some are already thinking that Yahoo is a sinking ship, and Mayer is just trying to let it stay afloat.
Various critics have openly spoken about what Mayer and Yahoo's board should do. One shareholder, Eric Jackson, a managing director for New York hedge fund Ader Investment Management, simply stated that she would do a great service to the company (and the shareholders) if she would just leave.
SunTrust analyst Robert Peck reportedly sent a letter to Yahoo's board after meeting with investors. He said they should consider firing Mayer from her job. Peck, along with the investors and analysts, also made a list of possible candidates that could replace Mayer.
Scott Galloway, NYU Stern School of Business marketing professor, told Bloomberg in September that Mayer has only retained her job because of her earlier announcement that she's pregnant. He added that she's history's most overpaid CEO.
This, and yet Yahoo is not getting the turnaround it needs. It seems that Mayer's time to turn things around is running out.
Tagsmarissa mayer, Yahoo, yahoo ceo
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