Marissa Mayer, the CEO of Yahoo announced the birth of her twin girls on her Tumblr blog yesterday. “Our whole family is doing great!”. The Mayer clan has not yet revealed the twins’ names. Also, Mayer will stay engaged with the company as needed with her CEO duties, the person said.
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After his birth she took just two weeks off, sparking criticism that she was setting a bad precedent for working mothers at Yahoo.
Baby girls… Yahoo CEO Marissa Mayer has followed a major business announcement with some big personal news. She said during the interview that she was expecting the twins to arrive “later this month”.
In the same way that she did when her son was born, Mayer reportedly plans to only have a short break away from work.
Yahoo itself would then become little more than a holding company for its $32 billion stake in Chinese e-commerce giant Alibaba.
Speaking on CNBC Wednesday, Mayer said she is “immensely proud of the products we offer our users today”, and that she has no plans to give up her job anytime soon.
Yahoo has struggled to grow its Internet business, which includes selling search and display ads on its news and sports sites and email service, in the face of competition from Alphabet Inc’s Google and Facebook Inc.
At the time, Mayer said she was pleased the Yahoo board was not concerned, telling Fortune their actions “showed their evolved thinking”. The stock, which initially rose after the troubled Internet company abandoned plans to spin off its Alibaba (BABA) stake to instead assess a spin off of its core Web properties, are now down, falling 4.4% to a recent $33.33 a share.
The company had no immediate statement on the news beyond Mayer’s post.
Experts say the shift in strategy could save shareholders billions of dollars in taxes but would likely take more than a year to complete.
“I’ve shared the news and my plans with Yahoo’s Board of Directors and my executive team, and they are incredibly supportive and happy for me”, she said.
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She also said she was “taking further steps to tighten our focus and prioritise our investments to drive growth”.
