Market Overview

Warren Buffett Talks Yahoo, Says Company 'Deteriorated Significantly'


Warren Buffett has few good things to say about Yahoo! Inc. (NASDAQ: YHOO) and its business.

Speaking on CNBC's Squawk Box, Buffett said Yahoo's business "deteriorated significantly" although the company did a great job in providing a live stream of Berkshire Hathaway Inc. (NYSE: BRK-A) annual meeting.

Buffett continued that Yahoo has made several acquisitions in recent history that "clearly" failed to turnaround the company. He added that "something has to change" in its business practice to return to growth.

Related Link: Warren Buffett And Charlie Munger Agree: Valeant Was A 'Sewer' And 'Enormously Flawed'

Meanwhile, Yahoo's CEO Marissa Mayer stands to receive $54.9 million as part of a severance package if she were to be terminated without cause.

According to Buffett, Mayer's severance package may be "crazy" - although he acknowledged this is a general problem across corporate America. He added that as a shareholder of a company that offers departing executive members 8-figure packages, he would "get a little irritated with some of these good-bye kisses."

Posted-In: CNBC CNBC Squawk Box Marissa Mayer Warren BuffettMedia


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