Activist investors want Yahoo! to replace its management team and sell its core business.
CEO Marissa Mayer and her board of directors appear ready for a proxy fight with those investors, a fight that could turn ugly very quickly.
Mayer’s appeared on CBS’ Charlie Rose on Thursday evening.
“I would love to be running Yahoo! We have a three-year strategic plan,” Mayer said when asked whether she thought she would be running Yahoo a year from now.
Mayer said her three-year plan includes the expansion of Yahoo’s mobile and video businesses. She also says the current team is the best for the job.
“We have a terrific team at Yahoo and I really hope that they’re allowed to continue on to do the — to do the good work,” Mayer added.
Activist investor Starboard Value has publicly demanded a management overhaul at Yahoo and have said Marissa Mayer needs to be replaced.
The company recently hired two new board members, just minutes before its first meeting with Starboard. They did not consult the company before making the hire.
SunTrust analyst Robert Peck wrote in a note Thursday that he was a “little perplexed” by the move and that it created a lot of questions.
“We take this news as negative,” he wrote, “as it likely means the company is gearing up for a proxy contest.”