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June 25, 2015

Yahoo Stakeholders Show Some Faith in Mayer

Annual Meeting Has All Board Members Re-Elected

Photo by Giorgio Montersino via Compfight cc — Yahoo CEO Marissa Mayer at a public event.

It was all warm and fuzzy for Yahoo Wednesday despite the company’s constant loss of employees and CEO Marissa Mayer’s leadership being questioned in recent months.

OracleLogoThe company held its annual shareholder meeting with Mayer shining the spotlight on the fact Katie Couric will remain the star of its news wing and a new deal has been inked making Oracle the default search engine for Java.

Interestingly, though, the company has actually seen sales decline and there have been a number of higher profile staff members leave the company in the past few years. This year, too, hasn’t been a great one for Yahoo with both profit and revenue estimates being missed in the last quarter.

Mayer seemed to recognize the struggles in her address to shareholders, though.

“We’re working very hard to take Yahoo, a very iconic company, and return it to greatness,” Mayer was quoted as saying by CNet. “We’ve worked hard to build ourselves a future.”

Shareholders seem to be willing to see where Mayer plans to go as all board members were re-elected. That comes as a mild surprise as a revolt had been threatened in the past. That friction got a bit of grease, as reported by Silicon Beat, when the company announced earlier this year it would share its huge assets in Alibaba, a Chinese e-commence company, with shareholders.

Mayer has made more than 20 acquisitions since she was named CEO and, to date, the largest has been Tumblr. Though the social networking site boasts approximately 500 million users, it is still a revenue gamble, reported The Street, with Mayer stressing it will pass the $100-million revenue mark this year.


W. Brice McVicar is a staff writer for SiteProNews.