Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Yahoo Poaches a Top Google Exec

By

After 13 years in key roles at Google, Marissa Mayer bails for a job as CEO and president of Yahoo.

PrintPRINT
MINYANVILLE ORIGINAL Seeing your stock pop more than 2% in after-hours trading isn't all that fabulous, but it's better than a stick in the eye, especially on a lousy Monday in the middle of July, and even more so if you're Yahoo (YHOO).

The stock rise was caused by a pretty startling piece of news, broken by Andrew Ross Sorkin on CNBC and in The New York Times at the stroke of 4 p.m.: Marissa Mayer had just resigned from Google to accept the job of CEO and president of Yahoo, the bumbling giant of the Internet.

Marissa Mayer is a genuine geek icon of Silicon Valley. She was Google's (GOOG) 20th hire and its first female employee, a Stanford-trained engineer who spent 13 years leading development of some the company's key projects, including Gmail and Google Maps. Not incidentally, she is said to have a strong design sense, and is credited as the force behind Google's minimalist but colorful front page. She sits on Google's operating board and, at just 37, she has a high enough profile to get elected to the Wal-Mart (WMT) board, too.

Clearly, all of the above wasn't going to get her much further at Google, where she had the title of vice president, reporting to a senior vice president.

No doubt she made many millions there, but "the Googirl" is gone, to use the nickname that a CNN producer-boy reports Mayer is "sometimes called." (The word was apparently coined by a headline-writer for a fashion magazine that featured Mayer.)

As for Mayer, she turned on a dime, from Tweeting about Google's latest features to announcing her new job with a link to the Yahoo news story. "I'm incredibly excited to start my new role at Yahoo tomorrow," she Tweeted, with a link to the Yahoo press release.

Financial analyst reaction to Mayer's hiring was cautious, not least because of Yahoo's recent history of CEO musical chairs, talent flight, and walking-dead staff morale. Some pointed out that Mayer is primarily a techie, and not at all a media type. That could be less than ideal, since Yahoo long ago farmed out its search functions (to Microsoft) and declared that it would distinguish itself as a content provider.

Then again, maybe Mayer has a better idea. After all, Yahoo still has 700 million users, but it has no design sense whatsoever.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE