Yahoo’s Marissa Mayer Has Run Out of Time for a Turnaround

That's the first thing I thought when I heard the company might be up for sale.

At the New York Times:

Yahoo’s Marissa Mayer has run out of time for a turnaround.

After three years, it’s clear that neither the chief executive, nor maybe any potential replacement, can save the flailing Internet company. The board’s job should be to determine the best way for tidying up the company’s affairs. Ms. Mayer’s best legacy could turn out to be that she got a good price for Yahoo’s core business.

Ms. Mayer has tried to drum up excitement by investing and buying smaller firms in mobile, video and social technologies. That hasn’t worked. Yahoo is expected to earn less than half as much as it did in 2012. The future doesn’t look any brighter, as companies cut into its advertising revenue with software that blocks online ads.

It’s doubtful that any other executive could do better. After all, Yahoo has had six bosses over the last decade, and none were able to figure out how to turn things around. History shows that struggling tech companies rarely regain momentum. Top engineers flee, new technologies and rivals are ignored and sclerosis sets in.

Given that reality, it might be futile for the board to try to replace Ms. Mayer. Instructing her to dismember the company might be the best approach and a way for her to salvage her reputation...

Ouch. That's harsh.

Still more at that top link.