I am very well aware of the challenges we face. There's a significant gap between where Yahoo is and where it needs to be. The good news is we're starting with some awesome assets.

"Over the last several months, we have made considerable progress driving much tighter focus within our core operations to drive growth. This will take time and continued investment, but we are operating with a great sense of urgency," said Susan Decker, president, Yahoo! Inc. "In order to create meaningful value for shareholders and to drive growth in the future, we will aggressively look at all opportunities to allocate our capital and talent in the most effective ways."