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Marissa Mayer could leave Yahoo soon: SunTrust's Bob Peck

A troubled Yahoo could be in for a top management change, and soon, SunTrust Robinson Humphrey Internet equity analyst Bob Peck said Friday.

"We think that if the core continues to deteriorate, that investors will get more agitated, and there is a good chance that in 12 months from now, Marissa Mayer may not be there," he told CNBC's "Fast Money: Halftime Report."

In an note Friday, SunTrust disclosed that it had sent a letter to the Yahoo board to describe three major investor concerns — core fundamentals, tax liabilities and management.

Peck described Yahoo as an "unsuccessful turnaround." He said that more than a dozen top executives have left the company this year alone. "That's creating a lot of discontinuity over there and we think that's just creating more questions for investors."

He hasn't given up on the company as a whole just yet. "I think there are things to do with the core asset here, and it may take a new management team to be able to do them."

Peck suggested a media or tech executive to potentially take Mayer's place. "Obviously Sheryl Sandberg would be fantastic," he added. Sandberg is currently Facebook's chief operating officer.

Both Yahoo and Facebook declined to comment for this story.

Disclosures: Neither the analyst nor his firm own shares of Yahoo.