Things haven’t been looking good for Yahoo as of late. The company has been embroiled in a dispute with Chinese company Alibaba, Google knocked Yahoo from its spot as top player in display advertising, and some investors are saying that the company should be sold off in parts. CEO Carol Bartz has promised that things will get better—but she might not be around long enough to make that happen.
According to TechCrunch, which spoke with “multiple sources” about Yahoo’s sorry state before its annual shareholder meeting on June 23, the company has been considering a replacement for Bartz. The board of directors has had “early and unofficial” discussions with Fox digital chief Jon Miller, and board member David Kenny has also been named as a possible candidate, among others. Bartz might know that she could soon be ousted, but only if she’s heard about it indirectly, said a TechCrunch source.
Meanwhile, Prabhakar Raghavan, previously head of Yahoo Research, was promoted to chief strategy officer—and investors aren’t happy with the decision, said TechCrunch. Some have questioned his “lack of business experience” and see the move as a “poor judgment call” by Bartz.
Worst of all, said TechCrunch, Yahoo’s financial results could be “significantly below” what investors expect, even after expectations were lowered last month. Shareholders are placing much of the blame on chairman Roy Bostock and might try to boot him from the board to send a message. (Removing Bartz would be “too disruptive.”)
Despite the company’s myriad problems, lowered financial figures might not actually cause the stock price to drop too much. “Investors have already priced the main Yahoo business to zero,” one of those investors told TechCrunch.