Yahoo CEO paints bright picture with potential sale looming

Yahoo CEO Marissa Mayer has tried to paint a bright picture during an annual shareholders meeting as the company considers selling its slumping internet operations.

The 45-minute gathering Thursday was a routine affair that provided no insight into whether Yahoo's board is leaning toward a sale or entrusting the beleaguered Mayer to engineer a long-promised turnaround.

Mayer told the small turnout of shareholders that Yahoo "is making great progress on our process" without specifying when a decision might be made. Most analysts expect Yahoo to make a choice this summer.

Verizon Communications is among the leading contenders to buy Yahoo's internet business.

If Yahoo sells, Mayer will probably lose her job after four years as CEO and walk away with a $55 million severance package.


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Citation: Yahoo CEO paints bright picture with potential sale looming (2016, June 30) retrieved 20 August 2019 from https://phys.org/news/2016-06-yahoo-ceo-bright-picture-potential.html
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