Marissa Mayer has tripled Yahoo’s stock price, but apparently that’s not enough
If you were an investor in any company that experienced the above growth in the past 2 years, you’d probably be pretty happy with whoever is running the ship.
Unless of course that ship were Yahoo, which perennially has at least a handful of influential shareholders who either a) don’t like the direction the company is heading or, b) want the company sold off or merged with someone else.
That’s the position Marissa Mayer finds herself in, despite the pretty impressive stock price growth since she took over the CEO role in July 2012. According to Reuters, at least two large Yahoo shareholders are unhappy with her performance:
…[the] shareholders are so unhappy with Chief Executive Marissa Mayer’s turnaround efforts that they are making a direct plea to AOL Inc CEO Tim Armstrong to explore a merger and run the combined company.
Armstrong has been receptive to these Yahoo shareholders and…has indicated he would only consider a friendly deal, the investors said.
While it is true that Armstrong has “revived a dying brand” he’s also had longer to do so–his first few years at the helm were mediocre at best. Meanwhile, Mayer inherited a lot of baggage and has being trying to give Yahoo the same identity and direction that Armstrong has finally found with AOL. She’s barely two years into that revival, so perhaps needs to be cut some slack.
While her critics will argue that Yahoo’s impressive growth is due to the explosive growth of its stake in Alibaba, that’s like telling Saudi Arabia that the country is only rich because of its oil production. It’s still rich!