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Marissa Mayer from Google is Yahoo’s new CEO

Marissa Mayer from Google is Yahoo’s new CEO

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Marissa Mayer Yahoo CEO

Marissa Mayer Yahoo CEOYahoo surprised Monday evening the Silicon Valley and the entire technology sector appointing an executive with extensive experience at Google, Marissa Mayer, as chief executive officer (CEO) of the company, at a time when the web portal is facing increasing competition and loss of market share, writes Market Watch. According to Bloomberg, Yahoo move aimed at halting the loss of users and market share, factors that led to revenue decline for three consecutive years for the largest U.S. web portal.

The company based in Sunnyvale, California, announced the new appointment in a press release: Mayer will take over as CEO from the current Interim Ross Levinsohn. The announcement caused Yahoo shares to rise in the extended session after the close of the trading session on Wall Street.

Immediately after the trading session closing, Yahoo shares jumped sharply to about $16.70, which is the maximum level in the last 12 months. Subsequently, during the extended session, Yahoo share price has gone down, to $15.98, up over 2.1% from the closing on Monday ($15.65, down 0.6% from Friday).

Mayer, aged 37, is the fifth CEO of Yahoo in the last 4 years and her main mission is to help the company regain the attention of Internet users who left the site, opting instead to socialize with Facebook and Twitter and searching the web with Google. The challenge for the new CEO is attracting the attention of advertisers who have moved the advertising budgets away from Yahoo. “She is someone who has been very good. She is a great name. But investors will say – I’ve seen this story before. We do not know how long this can last. Three CEOs in less than one year will certainly make investors to temper expectations. It comes to a matter of execution,” says Herman Leung, an analyst at Susquehanna International Group.

Marissa Mayer joined Google in 1999 as the 20th employee and is credited with keeping Google’s home page in a spartan regime for a decade and also with surveillance of products such as Gmail, Google News and pictures, books and search products.

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