Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Yahoo changes direction, spins off everything except Alibaba

Sharon Gaudin | Dec. 10, 2015
Despite speculation, CEO Marissa Mayer remains at Yahoo's helm.

Mayer also said she's "happy with the achievements" that the company has made under her leadership. She specifically pointed to moves she has made in mobile, video and social media.

"In addition to our efforts to increase value and diminish uncertainty for investors, the ultimate separation of our Alibaba stake will be important to our continued business transformation," Mayer said. "In 2016, we will tighten our focus and prioritize investments to drive profitability and long-term growth. A separation from our Alibaba stake, via the reverse spin, will provide more transparency into the value of Yahoo's business."

Yahoo's Chief Financial Officer Ken Goldman, also on the call this morning, said that spinning off Yahoo's core Internet business is expected to require third-party consents, shareholder approval and filings and clearance from the Securities and Exchange Commission.

He also said the reverse spinoff could take a year or more to complete.

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.