Yahoo has just completed their annual meeting, and while there was some good news discussed, it was largely focused on the companies troubles over the past several years. One of the votes that took place was whether or not the Yahoo CEO Marissa Mayer should return in her role on the board of directors (a separate role than CEO). According to the regulatory filing, more than 104 million votes went against her returning.
It is not yet clear whether that will be sufficient to force her off the board. Even if it is not, she may decide to step down (though unlikely). No matter what happens, it is clear that stockholders are not thrilled with her performance, or the performance of the company as a whole.
When discussing the difficulties the company is facing, Mayer talked about their strategic plan, including a focus on growing numbers and engagement across a variety of products, especially mobile search. Specifically, she stated, “These are some of the elements on the strategic plan that we’re executing to try and correct for the lack of growth.”
Mayer also commented briefly on the ongoing search for a buyer of Yahoo’s core businesses. Companies like AT&T have shown interest in making a purchase, though nothing officially has happened yet.
This latest board meeting is just one more problem that Mayer is facing, which does make some people wonder how long she will remain at the top of the iconic company.
