Marissa Mayer, Google Executive, Named Yahoo CEO

July 16, 2012 — -- Yahoo's had an unlucky executive streak lately, but that may be coming to an end. Marissa Mayer, one of Google's top executives, will join Yahoo as its new CEO, the company confirmed today.

"I am honored and delighted to lead Yahoo!, one of the Internet's premier destinations for more than 700 million users," Mayer said in a statement. "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."

Mayer joined Google in 1999 and was one of its first engineers. She leaves Google as its Vice President of Location and Local Services, a position in which she has been very public. She has been named as one of the most powerful women in technology time and again.

Yahoo has struggled to find a standing CEO since Scott Thompson left in May after admitting that his official biography included a college degree he never earned. Thompson was the third to assume the leadership position since 2011, when Carol Bartz resigned after failing to revive the company.

Mayer, who is currently 37 years old, has worked on Google's search homepage, Gmail, and other successful Google products. Sheryl Sandberg, now Facebook COO and board member, also started at Google. Before joining Facebook she was Google's Vice President of Global Online Sales and Operations.

Mayer resigned today from Google. She will begin tomorrow as Yahoo's CEO. "I'm incredibly excited to start my new role at Yahoo! tomorrow," she said in a tweet.