Yahoo CEO Marissa Mayer Sleeps In On Big Bucks Advertisers at Cannes
The whole point of Cannes is for dealmaking and to meet big advertisers. With much of Yahoo's revenue relying on ad dollars, it's the type of place Mayer would want to cultivate good relationships.
Last Tuesday evening, reports the Wall Street Journal, the giant ad agency Interpublic Group arranged a private dinner at the swanky L'Oasis for Mayer to meet executives from potential advertisers Mondelez International, brewer MillerCoors and Chobani, the Greek yogurt maker.
According to the Journal, IPG Chief Executive Michael Roth left the dinner before the CEO arrived two hours late.
At the festival, Mayer was on stage talking up Yahoo's strategy to get more advertising by creating themed online magazines in categories such as food. The speech was considered underwhelming and Business Insider described the presentation as stiff and "inauthentic."
To make matters worse, Sir Martin Sorrell demanded to know on stage why Mayer is ignoring his emails. Sorrell is CEO of agency giant WPP.
"If it were an investor meeting, a board meeting or a potential acquisition, I am sure she or someone from her team would have woken her up," one top executive at the IPG dinner told the Journal.
Advertising partnerships became a bigger part of Mayer's job after COO Henrique de Castro departed earlier this year.
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