Yahoo! Inc. (NASDAQ: YHOO) is about to get a new star as its permanent Chief Executive Officer. This story has been updated due to a press release confirmation. It is not going to be interim-CEO Ross B. Levinsohn. Amazingly enough, the deeply troubled Yahoo! is poaching a key figure from top rival Google Inc. (NASDAQ: GOOG).
We now have a press release confirming reports from CNBC and from the Wall Street Journal that Yahoo! is naming Marissa Mayer as its permanent CEO. No official release has been sent out by Yahoo! nor by Google to confirm the news but the word is that Mayer is resigning today and that she will take over as CEO on Tuesday. Mayer’s current title at Google is Vice President, Local, Maps, & Location Services. She is reported as being Google’s first female engineer and only its twentieth employee.
Mayer’s ranking was #42 in the 2011 Forbes Power Ranking. Her Twitter feed does not confirm any news and her posts have so far been very sporadic of late.
This will be viewed very positively for Yahoo! holders as of today. Yahoo! shares closed down 0.6% at $15.65 with a 52-week range of $11.09 to $16.79, but shares are up 2% at $15.96 on this news.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
