There’s no secret that Yahoo isn’t going through its best period, ever since Marissa Mayer was appointed as CEO and tried to change the company and put it on the right path.
According to The Washington Post, she wasn’t able to solve the company’s financial issues, despite spending billions on new projects and acquisitions. So far, Yahoo’s stock has fallen with 35 percent, so the fact that investors are already feeling frustrated and ask for Marissa Mayer‘s replacement doesn’t come as a surprise.
The board wants Marissa Mayer to leave the company
“This is like an ‘emperor has no clothes’ situation. The company and the shareholders would be better served with her leaving,” said Eric Jackson, a Yahoo shareholder and managing director of the New York hedge fund Ader Investment Management.
Eric Jackson is well known for being one of Marissa Mayer‘s biggest critics and it seems that he’s not the only one. Recently, after taking part at conference with the investors, Robert Peck, analyst at SunTrust, wrote a letter to Yahoo’s board and, without any further ado, recommended the directors to consider firing Marissa Mayer.
Even more, Jeffrey Smith from Starboard Value fund is suggesting Mayer to abandon a spin-off of Yahoo’s $30 billion stake in Alibaba Group and sell the company’s Internet business. It seems that if things don’t go his way, Mr. Smith is even considering a rebellion that could lead to the CEO’s departure.
Employees aren’t happy with the whole situation
And like this whole situation wasn’t enough, Yahoo’s employees aren’t doing pretty well either. Marissa Mayer‘s rating from Glassdoor.com is going down since 2012, from 99 to 73 percent, as stated by The Washington Post.
Finally, over this year, more than 12 members of Yahoo’s management team, including Kathy Savitt, former marketing and media chief, and Jacqueline Reses, development and acquisitions chief, have left the company.
