As activist investors circle Yahoo, market watchers weigh in on CEO Marissa Mayer's role.
In 3 1/2 years the company went from an Internet pioneer to "the same kind of company that AOL was," Erick Jackson, managing director at SpringOwl Asset Management, told CNBC on Friday in reference to Mayer's performance.
"Other than one hour appearance with Charlie Rose, there's little else to point to," the investor said.
The Yahoo stock was up 3 percent on Friday, but it's down 21 percent in the past year and up 49 percent in the past three years.
Similarly, Larry Haverty, whose firm owns shares of Yahoo, argues that the core business should be sold. The associate portfolio manager at Gabelli Funds told "Closing Bell" that to maximize shareholder value, the company should keep Mayer as CEO.
"I'm afraid if there's disruption in management you're going to lose possibly $400 million/$500 million of EBITDA," he said. "If you put an 8 multiple on that, that's $4 of shareholder value," he continued, adding that investors have suffered mildly, as the stock has been stagnant for 10 years.