New Yahoo boss angry shareholders
Only three weeks after taking office, met Yahoo chief Marissa Mayer, the shareholders in the face. They noted numerous decisions of their predecessors in question - including the promise to the billions from the sale of shares in the Chinese Internet company Alibaba to its shareholders.
Yahoo said in a stock exchange announcement that Mayer look together with the Board's growth and acquisition strategy of the company, to the restructuring plan and the targeted capital allocation and cash on hand. Alone, the Alibaba sales will bring in $ 6.3 billion in cash. Almost all the money that's left after taxes, was actually the shareholders were promised - in the form of a share buyback. The review of corporate strategy but could now lead to the fact that the share buyback program and the plans, the total dividend income remaining income from the Ali-Baba business to shareholders would be changed, there was now a duty release, the Yahoo of U.S. Securities and Exchange Commission filed.
The former manager of Google's peak in mid-July had taken the helm at Yahoo and now needs to stimulate the sluggish current business. Mayer wants to make yahoo back to an "innovation machine" in order to compete against rivals such as Google or Facebook can. But that costs money and needs employees. Currently running job cuts, the fall of 2000 to 14,000 employees by the victim. Mayer wants to develop a new strategy in any case and above all improve the Yahoo mail products, search, Flickr, and advertising. This could also include acquisitions in question, it said beriets few days ago.
On the stock market which now has become known projects to share repurchases and dividends were not exactly greeted with enthusiasm. The price of Yahoo's stock, already in the normal trading with a loss of 1 percent was slightly under pressure, fell further in after-hours trading. He slumped by 3.44 percent to 15.46 U.S. dollars.
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