Yahoo's identity crisis led to its demise - a decade in the making

San Francisco

WHEN senior Yahoo executives gathered at a San Jose hotel for a management retreat in the spring of 2006, there was no outward sign of a company in crisis.

The Internet pioneer, not yet a teenager, had just finished the prior year with US$1.9 billion in profit on US$5.3 billion in revenue. The tough days of the dotcom bust were a distant memory, and Yahoo Inc - flush with lucrative advertising deals from the world's biggest brands - was enjoying its run as one of the top dogs in the world's hottest industry.