CEO Marissa Mayer‘s adventure with Yahoo could be over in the near future, after one of the company’s shareholders announced that he is considering replacing her with former executives Ross Levinsohn and Jacqueline Reses, according to Reuters, cited by Business Insider.
This move is a result of Yahoo’s poor performances in the last period, putting it under pressure to change strategic direction.
It seems that the company’s activist hedge fund is now considering several people who could replace Marissa Mayer, but they haven’t decided upon a single candidate right now, said Erick Jackson, managing director at SpingOwl Asset Management, in a 99-page strategic analysis he sent to Yahoo’s board this Friday.
Business Insider states that Eric Jackson is one of the many Yahoo shareholders who are expressing their frustration about the current situation and are looking forward to a different path for the company, without Marissa Mayer.
“Ross Levinsohn was passed over for the job four year ago. I think the basic strategy that he was advocating was in hindsight the right strategy,” he said.
Also, Mr. Jackson added that Jacqueline Reses, a former chief development officer at Yahoo, currently working at Jack Dorsey’s Square, could be a good choice for CEO, as she is familiar with Yahoo and also has a private equity background.
“Whoever is the next CEO will need to take Yahoo core down to its studs in terms of its costs,” Jackson said.
Neither Yahoo or Marissa Mayer commented about this declarations.
Recently, Yahoo let their plans to spin off their stake in Alibaba aside, after the pressure put by investors, worried about the eventuality of having to pay billions of dollars in tax liabilities.