SpringOwl Activist Presentation Deck
Table of Contents
I. Executive Summary
I. Company Overview...(5)
II. A Breakdown of All Fundamentals... (6-15)
III. Private Equity, Starboard, Turnaround...(16-18)
IV. Yahoo's Potential and Value Creation Plan...(19-23)
II. How Yahoo Lost Its Way
I. Yahoo Once King Of The Internet...(25)
II. Constantly Changing Leadership ... (26)
III. How Yahoo Used To Make Money vs. Today ... (27-28)
IV. Has Yet To Make the Shift To Mobile ...(29-30)
III. The Status Quo At Yahoo Isn't Working
I. Why Yahoo's Board Picked Mayer ...(32-35)
II. A Refusal To Face Reality On Costs ... (36)
III. Expensive M&A...(37-43)
IV. Where Are The New Products ...(44-47)
V. The Shift To Mobile ...(48-53)
VI. Pay For No Performance...(54-57)
VII. Worse Culture Than When She Started...(58-60)
VIII.Unprofitable Deals... (61)
IX. Stock Buybacks...(62)
X. Poor Performance of Core Business...(63-66)
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IV. StarBoard's "Sell At Lows" Plan
I. The StarBoard Plan... (68)
II. The Problems With StartBoard Plan... (69)
III.Private Equity Has Tried To Buy Yahoo For Cheap Before ... (70)
IV.StarBoard's "Sell At Lows" Plan Isn't Attractive... (71)
V.The Downside Risk of Selling/Spinning The Core... (72)
V. A Better Plan For Yahoo Shareholder
I.
A Yahoo Turnaround for Yahoo's Public Shareholders...(74-76)
10-Step Turnaround Plan...(77-85)
II.
III. Yahoo's Next CEO...(86-88)
IV. Potential Buyer of Yahoo Core...(89-90)
V. Summary of Yahoo Action Plan... (91-93)
VI. Appendices
I. Corporate Governance... (95)
II. Board Profile...(96)
III. Board Compensation Profile... (97)
IV. Ownership Profile... (98)
V. ISS Peer Group... (99)
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