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CEO Mayer Set To Unveil Yahoo Turnaround Plan On Tuesday

CEO Mayer Set To Unveil Yahoo Turnaround Plan On Tuesday
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9/24/2012 10:52 AM ET

Yahoo Inc.'s (YHOO: Quote) new chief executive officer Marissa Mayer plans to unveil her turnaround strategy and vision for the struggling Internet giant to employees on Tuesday, according to tech news source AllThingsDigital.

Mayer, who shared details of her plans with the Yahoo board last week, has reportedly said that upcoming meetings with the company's employees will be "an act of radical transparency that will be a tradition moving forward".

Mayer, a former executive at Google Inc. (GOOG: Quote), is expected to provide details about renewed efforts to improve Yahoo's search and advertising platforms, in addition to attempts to rework the company's search partnership with Microsoft Corp. (MSFT: Quote).

The 37-year-old CEO also reportedly plans to provide details about redesigning Yahoo mail and the Yahoo home page.

In another meeting reportedly slated for October 1, Mayer is likely to outline annual goals for the company and each of its departments. She may also provide details about the rollout of a new system for tracking goals within the company, including individual goals.

Mayer is said to have decided to focus on ten key areas to propel growth at Yahoo, including finance and sports sites, as well as the Flickr photo-sharing site.

Yahoo said in early August that Mayer has embarked on a review of the company's business strategy that may lead to changes to its current plans to restructure operations, repurchase shares and return to shareholders substantially all of the after-tax cash proceeds from the sale of a part of its ownership stake in Alibaba Group Holding Ltd.

In a regulatory filing, Yahoo said Mayer and the board plan to review the company's growth and acquisition strategy, its restructuring plan that began in the second quarter, and its cash position and planned capital allocation strategy.

Mayer's plan to review Yahoo's growth and acquisition strategy as well as its cash position and planned capital allocation strategy has raised speculations that she may be thinking of acquiring some hotter, younger Internet or social start-up for a turn around at Yahoo.

Mayer became the CEO and a director of Yahoo on July 17. The appointment of Mayer ended a two-month old search for a permanent Yahoo CEO after Scott Thompson resigned as CEO following relentless calls from investors, including Daniel Loeb of hedge fund Third Point LLC, to fire him.

The move came after Thompson was found to have embellished his academic credentials, which undermined his credibility as a technology expert.

At Google, Mayer last served as vice president of maps and location services, where she oversaw product management, engineering, design and strategy for the company's geographical products, including Google Maps, Google Earth, Zagat and Street View.

She also curated the Google Doodle program, celebrating special events on Google's homepage.

In Monday's regular session, YHOO is trading at $15.64, down $0.09 or 0.60 percent on a volume of 3.63 million shares.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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