Yahoo is an “iconic” company, says CEO Marissa Mayer, who believes the beleaguered firm can return “to greatness.”
To do so, Yahoo has formed a committee of independent directors to explore strategic alternatives.
This could include selling the company, some reports suggest.
One potential buyer could be Verizon Communications, though neither company is commenting on speculation.
Yahoo’s market cap is currently $28 billion USD, but shares have been falling in the past year as investors grow impatient with a lack of clear vision for the company’s future.
Yahoo recently reduced its workforce by 15% and closed several business units.