Just a day after Yahoo said it was scrapping plans to spin off its stake in Alibaba and will now attempt a complicated ”reverse” spin of its core business, CEO Marissa Mayer announced in a tweet Thursday (Dec. 10) that she’s given birth to identical twin girls.
Yahoo warned that the new plan could take “a year or more to conclude.” With investor anxiety on the rise—its stock is down more than 30% from the beginning of the year—there’s much work to be done. In September, when Mayer announced her pregnancy, she said she planned to “take limited time” off while working throughout her leave, as she had done after the birth of her son in 2012, the year she took over as CEO of Yahoo.
In January, Yahoo pitched to investors an elaborate plan to restructure the company to sell its Alibaba shares, which are worth about $30 billion, without incurring any taxes. But in the fall, when it became unclear if the deal would go through tax-free, activist investors pushed for the company to keep its Alibaba stake and sell its core business instead.