Wall Street firm SunTrust Robinson Humphrey has been critical of former Google executive Marrisa Mayer's performance at Yahoo, but it crossed the line today when it published a report in which, out-of-the-blue, it listed 30 executives who would be viable successors.
And surprise, surprise, former eBay CEO John Donahoe's name showed up - qualified to run Yahoo, according to SunTrust, because he orchestrated the turnaround of eBay.
Naturally the media picked up on SunTrust's report today with headlines questioning whether Mayer should be fired. In one story, CNN reported that there had been no backlash in September when NYU Stern School of Business professor Scott Galloway told Bloomberg that Mayer still had her job only because she was pregnant.
Is it a case of the "old boy" network? (Note that Yahoo's Chairman of the Board is no other than former eBay executive Maynard Webb.) Or is Donahoe full of the people skills that Mayer seems to lack?
While it's rare to find current or former eBay employees who will criticize management, a glance at a
Wall Street Journal article from last week reveals plenty of "people familiar with" and "people who have worked closely with" dishing out negative comments about Mayer.
Like Donahoe, Mayer inherited a company facing extreme challenges. And as Donahoe did, Mayer has repeatedly said reviving growth at her company would take multiple years, according to the Wall Street Journal.
But while John Donahoe kept rolling out new 3-year turnaround plans each year with little progress shown, analysts were supportive of his strategies.
The case is different with Mayer - the Wall Street Journal reported last week that Mayer's investors have become impatient.
When Donahoe had bad news to report, he used every trick in the spin book. But here's what the Wall Street Journal wrote of Mayer: "When the Ms. Mayer is forced to deliver bad news, she employs what she calls a "jiu-jitsu move" - trying to create a diversion by producing tantalizing information, according to people who have worked closely with her."
The question isn't why analysts are looking critically at Mayer's performance at Yahoo. It's why they never gave John Donahoe's performance the same treatment.
What should Yahoo's board of directors know about John Donahoe's performance at eBay that might guide them in making a decision should they decide to oust Mayer?