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| Yahoo appoints Google's Marissa Mayer as new CEO | Yahoo appoints Google's Marissa Mayer as new CEO |
| (about 2 hours later) | |
| Technology firm Yahoo has appointed leading Google executive Marissa Mayer as its next chief executive. | Technology firm Yahoo has appointed leading Google executive Marissa Mayer as its next chief executive. |
| Ms Mayer, 37, will become the firm's third CEO in the space of a year. | Ms Mayer, 37, will become the firm's third CEO in the space of a year. |
| In a statement released by Yahoo, Ms Mayer said she was "honoured and delighted" to lead the company. | In a statement released by Yahoo, Ms Mayer said she was "honoured and delighted" to lead the company. |
| In May CEO Scott Thompson stepped down after accusations that he put a fake computer degree on his CV. In September 2011, CEO Carol Bartz was fired after two-and-a-half years in the post. | In May CEO Scott Thompson stepped down after accusations that he put a fake computer degree on his CV. In September 2011, CEO Carol Bartz was fired after two-and-a-half years in the post. |
| Yahoo has struggled in the face of increased competition from search rivals including Google and the emergence of social giants such as Facebook. | Yahoo has struggled in the face of increased competition from search rivals including Google and the emergence of social giants such as Facebook. |
| Although it remains the US' largest web portal, correspondents say Yahoo's failure to become more "social" has hurt the firm. | Although it remains the US' largest web portal, correspondents say Yahoo's failure to become more "social" has hurt the firm. |
| Its stock is now worth less than half its peak value. | Its stock is now worth less than half its peak value. |
| Yahoo's news service still attracts very large volumes of traffic. But other products, such as its search engine and email, have suffered. The company's revenue from display advertising has also dwindled. | Yahoo's news service still attracts very large volumes of traffic. But other products, such as its search engine and email, have suffered. The company's revenue from display advertising has also dwindled. |
| 'Shaping Google' | 'Shaping Google' |
| Interim CEO Ross Levinsohn was thought to have been the favourite for the job before Monday's announcement that Ms Mayer was to take the helm. | Interim CEO Ross Levinsohn was thought to have been the favourite for the job before Monday's announcement that Ms Mayer was to take the helm. |
| Correspondents say the selection of Ms Mayer to head the company suggests a renewed focus on technology and products, over online content. | |
| "I look forward to working with the company's dedicated employees to bring innovative products, content, and personalised experiences to users and advertisers all around the world," Ms Mayer said. | "I look forward to working with the company's dedicated employees to bring innovative products, content, and personalised experiences to users and advertisers all around the world," Ms Mayer said. |
| She becomes one of very few women in Silicon Valley to rise to the top of a major technology firm. | |
| "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," Standard and Poor's equity analyst Scott Kessler told Reuters news agency. | |
| Ms Mayer, who takes up her post at Yahoo on Tuesday, joined Google in 1999 as the company's first female engineer. | Ms Mayer, who takes up her post at Yahoo on Tuesday, joined Google in 1999 as the company's first female engineer. |
| A former computer science student at California's Stanford University, she was the fledgling company's 20th employee. | A former computer science student at California's Stanford University, she was the fledgling company's 20th employee. |
| She worked on creating the Google search engine and the company's widely-recognised home page. | She worked on creating the Google search engine and the company's widely-recognised home page. |
| More recently, Ms Mayer has been in charge of the technology giant's location and mapping services, which include Google Maps, Earth, Local and Street View. | More recently, Ms Mayer has been in charge of the technology giant's location and mapping services, which include Google Maps, Earth, Local and Street View. |
| She has been credited with shaping much of the "look and feel" of Google's user experience. | She has been credited with shaping much of the "look and feel" of Google's user experience. |
| Ms Mayer currently serves on the boards of Walmart, San Francisco Museum of Modern Art, San Francisco Ballet and New York City Ballet. She will also join Yahoo's board. | Ms Mayer currently serves on the boards of Walmart, San Francisco Museum of Modern Art, San Francisco Ballet and New York City Ballet. She will also join Yahoo's board. |