With an auction process nearing and a possible proxy battle looming, it looks increasingly likely Yahoo Inc. will not remain a standalone, publicly-traded company one year from now. Yet its chief executive is calling for three more years.

Marissa Mayer, in a one-hour interview Thursday night with Charlie Rose, revealed that she has a "three-year strategic plan" for continuing on in her attempt to turn around Yahoo that entails building and improving the services people use on their mobile phones every day, such as...