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Former Google Exec Marissa Mayer named new Yahoo CEO
Former Google Exec Marissa Mayer named new Yahoo CEO
By: iMedia News Bureau

In a stunning development, Yahoo has named long-time Google Exec Marissa Mayers as the company’s CEO.

The struggling Internet giant announced Monday that it is turning to Mayer — its fifth CEO in five years — to spearhead a massive turnaround effort that has gained little traction the past few years.

Mayer succeeds interim CEO Ross Levinsohn who took over for the ousted Scott Thompson who was shown the door following résumé inaccuracies.

"I am honoured and delighted to lead Yahoo, one of the Internet's premier destinations for more than 700 million users," Mayer said in a statement. "I look forward to working with the company's dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world."

Mayer joined Google in 1999 as its 20th employee and first female engineer. She worked her way up to become Vice President of location and local services, which made her responsible for the lifeblood of the company's search business—advertising.

During her 13 years at Google, Mayer was responsible for shaping Google's most popular products — ranging from its search homepage to Gmail and Google Images. Recently, she oversaw the company's location and local services, including Google Maps, encompassing more than 1,000 product managers.

In 2010, Fortune magazine listed Mayer as one of the 50 most powerful women in the world. Mayer, 37, is the youngest woman ever to make that list.

"Marissa is a well-known, visionary leader in user experience and product design and one of Silicon Valley's most exciting strategists in technology development," Yahoo Co-founder David Filo said in a statement. "I look forward to working with her to enhance Yahoo's product offerings for our over 700 million unique monthly visitors."

Mayer told the New York Times that she intends to leverage Yahoo’s strong franchises in email, finance and sports.