Yahoo's CEO Jerry Yang rejected the image of his company as 'under siege,' telling that it is rallying to streamline Yahoo's offerings and make it more relevant to consumers and to advertisers.
Yahoo faces the threat of mutiny from shareholders unhappy with the way its board handled a takeover offer from Microsoft that was ultimately withdrawn this month, an Associated Press report said.
Speaking at The Wall Street Journal's 'D: All Things Digital' conference, Yang stood by his handling of the deal and painted a bright future for the internet pioneer he co-founded, the report said.
'The perception of us being a company under siege is just not accurate,' said Yang, who deflected repeated questions about what lies ahead for the company, where he returned as CEO last year.
Yang and Yahoo President Susan Decker said the company was reorganizing around four pillars: home page, search, mail and mobile services.
'The essence of Yahoo is being defined today,' Yang said. 'We have to be incredibly relevant to the consumer. We want you to start your day at Yahoo.'
Later, he pleaded for time to turn around the slumping company.
'I know people want to see results,' he said. 'But I think we're starting to show Yahoo can be on this path to being a different entity.'
Yang faces a looming showdown with activist investor Carl Icahn for control of Yahoo's board. Icahn, hoping to channel shareholder discontent, has nominated a slate of candidates to replace the current board of directors, a process known as a proxy fight, in an effort to arrange the marriage between Microsoft and Yahoo.
The software giant withdrew its €30.6 billion (US$47.5 billion) bid earlier this month. Yang has said he and other board members about €33.8 billion (US$52 billion).