Yahoo! Taps Google's Marissa Mayer as New CEO7/16/2012 8:54 PM Eastern
Yahoo has turned to the executive ranks of its main competitor Google for a new top executive, appointing Marissa Mayer as president, CEO and member of the board.
She will join Yahoo! on July 17.
The move was something of a surprise as many had expected interim CEO Ross Levinsohn to get the nod for the top job. Yahoo's previous CEO, Scott Thompson, left after revelations that he had lied about his credentials.
In the new post, Mayer faces a difficult challenge of trying to revitalize a pioneering online brand that has fallen significantly behind Google, Facebook and others in recent years.
In making the announcement, Yahoo noted that the appointment of a top Google executive with a long track record for introducing new products "signals a renewed focus on product innovation to drive user experience and advertising revenue."
Mayer joined Google in 1999 as its 20th employee and for many years led efforts on many of its most notable products, including the development of its flagship search product and iconic homepage for over 10 years.
Most recently, Mayer was responsible for Local, Maps, and Location Services for Google, a group of products that includes Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile.