Marissa Mayer, the new chief executive of struggling Internet giant Yahoo, is re-evaluating the company's business strategy including the initial plan to distribute to Yahoo shareholders the expected proceeds from the pending sale of Alibaba shares.
According to a Thursday filing with the U.S. Securities and Exchange Commission (SEC), Yahoo said Mayer, who , was engaged in a "review of the company's business strategy to enhance long-term shareholder value".
The filing said the review could lead to a re-evaluation or changes in the company's current plans, including restructuring plans as well as the previously announced plan to return all after-tax cash proceeds of the initial share repurchase by the Alibaba Group to Yahoo shareholders.
In May, Yahoo agreed to letfor around US$7.1 billion.
News of Mayer's review sent Yahoo's shares slipping. It dropped 3.56 percent to US$15.44 in after-market trading, AFP reported Friday.