Tuesday, July 17, 2012

Google's Marissa Mayer is Yahoo’s new CEO

Yahoo! Inc. (NASDAQ:YHOO) has appointed Ms. Marissa Mayer as its new CEO. This would be the company’s third CEO appointment within a span of 12 months. Just two months ago, Mr. Scott Thompson was forced to resign after it was found that his computer degree mentioned in his CV wasn’t original.


The company has been facing tough competition from Google Inc (NASDAQ:GOOG) and Facebook Inc (NASDAQ:FB)Yahoo News has been the only positively performing aspect of the business while its other products such as the search engine and email aren’t performing that well.

Ms. Mayer has become one of the very few women at the top of the technology industry. Commenting on her appointment, she said that she was “honored and delighted” and that she "look(s) 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,"

Considering the current shape that Yahoo is in, some analyst were surprised that Ms. Mayer, one of the leading women in the industry, accepted the role. She is often regarded as the brains behind Google’s homepage, Google Earth, Google Maps and its highly innovative ‘street view’.

Mr. Ross Levinsohn, who had served as in interim CEO after Mr. Thompson quit, was expected to take the role of the chief executive. S&P’s Scott Kessler told Reuters that "A lot of people did not believe that Yahoo could get someone of the caliber of a Marissa Mayer to become the CEO at this stage,"

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