Google Executive Marissa Mayer Sits as New Yahoo CEO
Yahoo appoints a new Chief Executive in the person of Marissa Mayer, a former Google search executive who was responsible for the success of many Google products, including Google News, Google Images and Gmail. Mayer follows in the top position most recently held by Scott Thompson, who resigned as CEO in May after a controversy about his false credentials began to circulate. In less than a year, Yahoo – which began as one of the Internet business pioneers at the start of the 20th century – has already had four chief executives before this latest appointment. Marissa Mayer takes her place as the fifth chief executive in less than twelve months.
As the new Yahoo chief, Mayer now holds the distinction as one of the most well-known women in America’s modern business landscape. Dealbook New York Times placed Mayer within the same league as Chief Executive Meg Whitman of Hewlett-Packard, Facebook COO Sheryl Sandberg and I.B.M. Head Virginia M. Rometty. A trained engineer who had her first post at Google as a computer programmer, Mayer also held one of the exclusive positions at Google’s operating committee and has just recently joined the 16-member board of the Wal-Mart stores. She received the job offer at Yahoo in June and has accepted the same via telephone. On Tuesday she will assume her new executive position at Yahoo, including a slot in the board.
Industry analysts are optimistic that the new CEO will be able to turn things around for Yahoo, which has failed to resurrect itself in the face of sterner competition coming from the biggest Internet players including Google and Facebook. Yahoo CO-Founder David Filo expressed excitement as to Mayer’s joining the company. Knowing that Yahoo needs to return to basics, he knows Mayer’s presence and leadership within the company will be a surprise for many.[via]