SunTrust's Bob Peck Highlights 10 Candidates to Replace Yahoo! (YHOO) CEO Marissa Mayer
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SunTrust Robinson Humphrey analyst Robert Peck offered comments and 10 possible candidates to replace CEO Marissa Mayer Yahoo! (NASDAQ: YHOO) should it come to that.
Peck said based on conversations with industry people and investors, they believe the five key attributes a potential CEO candidate could be evaluated on include: 1) Public CEO experience; 2) Familiarity with Yahoo, its core business, unique challenges and opportunities; 3) Media background; 4) Technology experience; and 5) Turnaround executions or strong operational experience.
The Top 10 Candidates in no particular order are: Ross Levinsohn, Dan Rosensweig, Sheryl Sandberg, Jim Lanzone, David Rosenblatt, Margo Georgiadis, Susan Wojiki, Beth Comstock, Linda Yaccarino, and Jason Killar.
Commenting on next catalysts for the stock, Peck highlighted: "We underscore that we are unclear what the board and CEO might do and compile this list merely to address the investor questions we are getting on "…if not Ms. Mayer, then who?" As for next catalysts, we would expect to potentially hear from the company on: the convertible bond notice, a “will” letter from Skadden Arps, and potentially a response to Starboard’s letter. Given the overwhelming likelihood that the Aabaco spin is treated as tax-free, we maintain Buy rating and $40 PT that is based on sum of the parts using 5x 2017 EBITDA."
The analyst maintained a Buy rating and price target of $40 on YHOO.
Shares of Yahoo! closed at $32.94 yesterday.
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