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Turns Out Marissa Mayer Was the Wrong Person for the Yahoo! Job

NEW YORK ( TheStreet) -- After Marissa Mayer got the Yahoo! (YHOO - Get Report) job, I supported the move and stood strongly behind her for several reasons.

First, we're about the same age. I like seeing people my age (38) and younger experience great success. It makes me feel good. Plus it drives me to do more.

And it was a breath of fresh air to see Yahoo!'s board do the opposite of companies such as Hewlett-Packard (HPQ - Get Report), Best Buy (BBY - Get Report) and J.C. Penney (JCP - Get Report) by going with the young tech disruptor as CEO over boring, entrenched and/or retread leaders.

Second, I felt like the media gave Mayer a raw deal -- initially -- simply because she is not only a woman, but, at the time of her hiring, a very pregnant one. I don't like pile-ons. I don't like seeing people get picked on, particularly on the basis of their anatomy and such, so I rallied.

Third, I really thought she would do a great job as CEO. And, by some accounts, she has/is.

If the stock market reflects reality, I made the correct call. Since Yahoo! hired Mayer the stock is up roughly 73%. That said, HPQ and BBY are also up approximately 35% and 78% over the same period. JCP is the only laggard in the bunch, off around 32% since mid-summer 2012. But, for as much as people claim it is, the stock market isn't always a trusty forward-looking mechanism. It creates flavors of the month and, often, leaves retail investors holding the bag.

It's not that Yahoo! is in anywhere near as bad shape as BBY and JCP or HPQ. Because they're not. Quite the contrary. It's just that the four companies/stocks have similarities.

Three of them have seen what, I think, will ultimately be ill-advised stock price runs. Investors haven't really taken a critical look at the future prospects for Yahoo!, HP and Best Buy. To that end, throw in JCP and you have the wrong person in place at the top.

On Mayer specifically -- she's attempting to play the role of head media hotshot at Yahoo!. Consider the latest Kara Swisher scoop over at All Things D: Mayer is trying to cook up all sorts of media "synergy" with everybody from Katie Couric to Vogue magazine.

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BBY $35.39 0.00%
GOOG $565.06 0.00%
HPQ $33.26 0.00%
JCP $8.41 0.00%
TWX $85.36 0.00%


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