Yahoo stock price slips over new CEO Mayer's 'strategy review' of ailing business

Aug 10, 11:41 am

Sydney, Aug 10 (ANI): Embattled Internet firm Yahoo's stock price has slid as newly-appointed CEO Marissa Mayer is planning to overhaul the company's strategy to regain its position in the market.

Mayer, a former Google executive, is currently engaging in a strategic review of Yahoo's business.

Mayer is re-evaluating the film's plans, including a promise that billions of dollars from the sale of part of its stake in Alibaba Group in China would be channelled to stockholders, probably by buying back shares, News.com.au reports.

Some reports have suggested that Yahoo may alter plans to return money to shareholders.

According to an expert, Mayer's move could irk some shareholders who are wanting some payback.

"In short, Mayer may keep the cash to bolster the books or she may use it for deals or other purposes," Jon Ogg wrote in a blog post at investment website 24/7 Wall St.

"This is how a new CEO can manage to irk shareholders who are wanting some payback for their patience," he added.

Meanwhile, Yahoo's shares dropped 3.56 per cent to 15.44 dollars in after-market trading. (ANI)

Yahoo, Marissa Mayer, business, Google, Alibaba Group, China

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