Yahoo CEO Marissa Mayer: "I'm Planning to Stay"
She comments in a memo and on an investor call after news of the internet company's $4.83 billion sale to Verizon, which she called an "exceptional outcome."
The sale of Yahoo's core assets to telecom Verizon for $4.83 billion is "an exceptional outcome" for shareholders, Yahoo CEO Marissa Mayer said Monday on a conference call.
The comments came after she published an internal memo on Tumblr, in which she said: "I’m planning to stay. I love Yahoo, and I believe in all of you. It’s important to me to see Yahoo into its next chapter." She didn't detail how long she would stay at the company.
On the call, Mayer said she and the other management team members would focus on making sure there was a smooth transition and that the deal would be seen through to its close, expected in early 2017, and also on reviewing the best options for the company's stakes in Alibaba, Yahoo Japan and non-core patents that aren't part of the Verizon deal.
Yahoo chairman Maynard Webb said on the call that the board was "extraordinarly appreciative of Marissa and the management team and the effort that they put into this entire process," and that they expect her "to lead us through this transition."
Management said the Yahoo patent portfolio didn't draw as strong a price as part of the core business sales process as executives feel could be reached in a separate sale.
Mayer on the call also said the deal shows the "immense value" that Verizon sees in the company's core business. "Verizon believes in our vision the most," she said adding that there was "high level of interest from multiple entities" in the company.
Digital advertising revenue growth will be accelerated in the deal, Mayer predicted on an investor call after news of the internet company's deal with the telecom giant. "Together, we can realize our growth goals much faster."