After less than stellar stock prices, it appears Marissa Mayer may soon be on her way out as the ferocious leader of Yahoo. According to people briefed on the matter, Mayer is “under intense scrutiny” this week following not so pleasant stock prices; a less than formidable marketing strategy, and an angry set of board members.
Reports indicate that Mayer’s problems began after Yahoo’s Board of Directors reportedly rejected her upcoming plan to spin off the company’s 15% stake in Chinese e-commerce giant Alibaba. The company, would have purportedly been called Aabaco, however, it doesn’t appear such will be happening.
Some of the trouble could be paid to the fact that the hedge fund in which manages most of Yahoo’s Board didn’t quite take to well to the IRS not reaffirming that the Alibaba spin-off would indeed be tax free — something that would have cost them upwards of $10bn in taxes and beyond.