Past 5 years have been disastrous for Yahoo – The one time ruling Internet giant has had 4 CEO’s in past 5 years. And now the veteran Google Executive Marissa Mayer has become the 5th, after Yahoo announced her taking over the reigns of waning Yahoo.
Marissa Mayer, who was the employee number 20 at Google and has been a significant part of most important Google products, including Google search, in her 13 year long stint. Most of the Industry experts are stunned at this decision, as this decision has come as a total surprise. No one expected Marissa to be even on list of probables for Yahoo.
Marissa Mayer posted her move to join Yahoo on her Google Plus account:
We bring you some selected quotes from around the world on their reaction to Marissa Mayer’s appointment as Yahoo President & CEO.
Harry Mccracken article in Time Magazine’s tech blog reads – “Yahoo’s Utterly Surprising, Completely Logical Pick for CEO”. Here is what he opines
If Mayer can make Yahoo a place to go for truly exciting new stuff in the browser, on phones and on tablets, she’ll have done far more to improve the company’s chances than Thompson, Bartz or Yang managed to do during their recent tenures, each of which was a fiasco in a different way.
It never occurred to me that Yahoo’s board would be smart enough to offer Marissa Mayer this job, or that she’d be audacious enough to take it. But now that it’s happening, I can’t think of anyone who’d clearly be a better choice. Even if the odds are still against Yahoo, the odds that its CEO is finally going to be an asset rather than an albatross seem pretty good.
Google’s Executive Chairman Eric Schmidt made a statement on outgoing Marissa Mayer
“I worked with Marissa for many years — she’s a great product person, very innovative and a real perfectionist who always wants the best for users. Yahoo has made a good choice and I am personally very excited to see another woman become CEO of a technology company.”
WSJ puts across Yahoo’s internal employees’ reaction to Marisa’s appointment
Inside Yahoo, reactions to Ms. Mayer’s appointment ranged from shock and delight among some company’s employees who work on its various Web services, to disappointment among some employees in the company’s important sales arm who had been following a relatively new strategy initiated by Mr. Levinsohn.
Other managers privately expressed concern that yet another CEO would lead to reorganizations and attrition could accelerate.
WSJ’s article also talks about how Marissa was perceived internally in Google.
Ms. Mayer is known as a talented manager with an occasionally brusque style that can make her difficult to work for, according to people who have worked under her. She has an obsessive attention to detail, often micromanaging details down to the shade of colors in new product designs, these people say.
When the Yahoo recruiter first contacted Mayer June 18, she was well-aware that she would soon be a new mother. She told Yahoo’s board about her pregnancy in late June.
According to All Things D, Mayer’s pregnancy was not an issue to the company’s board. Yahoo’s decision reflects a change in a business environment once inhospitable to mothers and women expecting children.
Many financial analysts on Wall Street are not too excited about the news. According to this Forbes article, Citibank’s Mark Mahaney comments:
What we are a bit worried about is that by selecting Ms. Mayer, Yahoo! is explicitly pursuing an aggressive and bold Growth strategy, whereas we believe a Value strategy might be more appropriate.
From what I have read, I think nothing can be said about Yahoo’s future at present. Yes, Marissa Mayer’s appointment is a bold move and sort of coup in terms of its rivalry with Google. However, Marissa is a first time CEO and Yahoo has some really big mountains to climb. Only time will tell if she is successful.