Since taking the top job at Yahoo! three years ago Marissa Mayer has been trying to turn around the company to become profitable and iconic again. However her efforts and management style have led to controversies and top lieutenants heading for the exit in droves.
There are many questionable decisions Marissa made, one notable example would have been the hiring of Henrique De Castro, as Chief Operating Officer, a Google colleague, and then firing him 15 months later. His goodbye package was worth $109 million, not bad for about just a little bit of over a year’s work.
Then there were the the many acquisitions made to ramp up revenues and talent, but all of the different parts just did not fit together as she had expected. However with the Alibaba cash that Yahoo! got from selling part of its stake, Marissa just wanna to spend spend and spend and hope everything will work out in the end.
Yet to be fair to her, we understood what she was trying to do and in reality the decisions she made were not all that bad, but the biggest problem is she overpaid on many of them. And then she lacks the focus and ability to integrate them all into a technology media company.
Now even her most ardent supporter, Starboard Value LP, has decided enough is enough and is making her dance to their tune again. Starboard told her last year to spin-off Yahoo! Alibaba stake and now they say don’t do it. Instead they told her to sell Yahoo!’s core business instead. And it seems she is listening as there is news that Yahoo! board will meet to discuss doing just that.
When we heard this we thought that Marissa Mayer should step down as CEO. She failed to execute the Alibaba spin-off by the fourth quarter as expected, but the worst offence is her inability to make independent decision.
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Should Marissa Mayer, CEO of Yahoo, be fired?