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Yahoo! poaches Google’s Marissa Mayer as new chief executive‏

17 Jul

MARISSA MAYER

The 37 year-old quit Google   by telephone on Monday afternoon and starts at Yahoo! on Tuesday. Having   joined Google as its first female engineer 13 years ago, Ms Mayer’s move to   Yahoo! will be regarded as brave one given the scale of the challenges   facing Yahoo!.

The former internet darling has struggled to adapt to the increasingly social   nature of the web and, as a result, has seen its advertising revenues   decline.Those problems have been exacebated by a series of blunders at the   top of the company, culminating in the departure in May of former chief   executive Scott Thompson for allegedly doctoring his CV.

Shares in Yahoo! climbed after the appointment was announced as investors took   encouragement from Ms Mayer’s record at Google.Ms Mayer, who studied at   California’s Stanford University, has been given credit for the success of   Gmail and Google News.

The central challenge for the new Yahoo! boss will be   in defining the company’s central purpose is and generating more revenues   out of the tens of millions of people who continue to make Yahoo’s homepage   one of the most visited on the web.

The scale of the hurdles she faces in reviving Yahoo! are likley to be   underlined tomorrow when the company reports its latest results. Last night,   Ms Mayer insisted that the decision to leave Google was “reasonably easy”   after she was first approached about the job last month.Yahoo! remains one “of   the best brands on the internet,” she told the New York Times.

One of her first priorities will be in luring new talent to Yahoo!. That   sentiment was echoed by Eric Jackson, a fund manager at Ironfire Capital,   who has been pushing for change at the company for the last two years.”There   are very few people in Silicon Valley who are genuine tech rockstars and can   go out and hire as CEO – she is one of them,” Mr Jackson said. Ms   Mayer’s decision to leave the far more profitable and successful Google   might also suggest that plans for a revivial are already underway at Yahoo!.

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Posted by on July 17, 2012 in Business News, International News

 

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One response to “Yahoo! poaches Google’s Marissa Mayer as new chief executive‏

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