Yahoo shares lost more than 35 per cent of their value over the course of 2015 and, unsurprisingly, that decline continues apace. Shares were down by a further one per cent last night. The company's next earnings statement is due later this month and is likely to stoke further demands for immediate change. Yahoo can't avoid or delay publishing it, much as it would no doubt like to, but will hope to be able to blunt some criticism by finally announcing the details of a long-promised and long-delayed cost-cutting and retrenchment plan. However, it will be too little, too late. Marissa Mayer's tenure is almost at an end and Yahoo's board of directors will be decimated - and about time too.