Struggling search engine Yahoo announced that former Google employee Marissa Mayer has been appointed to the position of CEO. Her appointment marks the third CEO that the company has had in just over a year.
“I am honored and delighted to lead Yahoo!, one of the internet’s premier destinations for more than 700 million users. 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,” she said in a statement.
The market reacted favorably to her selection, as Yahoo shares increased by 2 percent to $15.97 in after-hours trading. Mayer’s main competitor for the position was front-runner and acting CEO Ross Levinsohn.
“The Board of Directors unanimously agreed that Marissa’s unparalleled track record in technology, design, and product execution makes her the right leader for Yahoo! at this time of enormous opportunity,” said Fred Amoroso, Chairman of the Board of Directors.
“Mayer, one of Google’s earliest employees, was the Internet search company’s first female engineer and has led various businesses at Google including the design of its flagship search engine and its location and local services business,” wrote Reuters.
Mayer replaces former CEO Scott Thompson, who resigned in May only after being at the job for six months, and Thompson replaced controversial Carol Bartz.
In the statement issued by Yahoo, they revealed that she is highly-skilled. “Mayer received her B.S. in Symbolic Systems and her M.S. in Computer Science from Stanford University, specializing in artificial intelligence for both degrees. She is credited as an inventor on several patents in artificial intelligence and interface design.”
In an interview with Fortune Magazine, Mayer also revealed that she is pregnant. “He’s super-active. He moves around a lot. My doctor says that he takes after his parents,” she said.
Charlie Fripp – Consumer Tech editor
