Marissa Mayer says execs are meeting ‘daily’ about how to sell or spin off Yahoo

Marissa mayer
Yahoo CEO Marissa Mayer Chip Somodevilla/Getty Images

Yahoo’s management team is meeting every day with advisors and a special board committee as the company explores “strategic alternatives” that involve everything from selling the company to spinning off the business, CEO Marissa Mayer said on Tuesday.

Addressing what she referred to as “misconceptions” and “external noise” about the situation, Mayer said she completely supported the Yahoo board’s efforts to explore a sale of the company while simultaneously considering other options such as a spin-off of the core business.

“Let me be unequivocal, our board, the management team and I have made the strategic alternative process a top priority,” Mayer said during the company’s first quarter results conference call.

Mayer said she and CFO Ken Goldman have personally answered “hundreds of requests for information” from various parties involved in the process, meeting with people in person and on the phone.

Yahoo has reportedly received acquisition offers from several bidders including telecommunications giant Verizon and private equity firm TPG.

Some media reports have suggested that Yahoo has been dragging its feet on the sales process, suggesting that the management team is not truly interested in selling the company but is merely going through the motions to placate antsy shareholders including activist hedge fund Starboard Value.

Mayer did not provide details about any of the acquisition bids that have been recently submitted, but she said that the company was moving “expeditiously.” She also said that Yahoo would not provide any more updates on the process.

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