Marissa Mayer, one of the top executives at Google, will be the next CEO of Yahoo, making her one of the most prominent women in Silicon Valley and corporate America. The appointment of Ms. Mayer, who was employee No. 20 at Google and was one of the few public faces of the company, is considered a surprising coup for Yahoo, which has struggled in recent years to attract top flight talent in its battle with competitors like Google and Facebook. Ms. Mayer, 37, had for years been responsible for the look and feel of Google’s most popular products
Yahoo will review the educational record of CEO Scott Thompson after investor Third Point LLC, which is fighting for representation on the company board, highlighted an inaccuracy in his credentials. While Mr. Thompson lists a bachelor's degree in computer science from Stonehill College, the school didn't begin offering such a degree until four years after he graduated, Third Point CEO Daniel Loeb said yesterday in a letter to the board. Mr. Thompson has an accounting degree from the school. Yahoo's board plans to review the matter and will "make an appropriate disclosure to shareholders," the company said.
Yahoo Small Business hopes to grow by offering small businesses an integrated marketing dashboard to manage and expand their digital marketing efforts. The Yahoo Marketing Dashboard, generally available today, provides a consolidated view of a business’s marketing results and reputation. Tom Byun, general manager, Yahoo Small Business, said the company has almost 10 million small business users of products including Yahoo Finance and mail, as well as "intendeds." "This is a very proven, long-standing business that's also highly profitable," Byun said. "We're now taking it beyond Web hosting to, 'How can you help me grow my business and manage …
Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don’t fit into his plans for turning around the beleaguered Internet company. The cuts announced Wednesday represent about 14 percent of the 14,100 workers employed by Yahoo. The company estimated it will save about $375 million annually after the layoffs are completed later this year. Yahoo will absorb a pre-tax charge of $125 million to $145 million to account for severance payments. The charge will reduce Yahoo’s earnings in the current quarter. Workers losing their jobs will be notified Wednesday.
Struggling internet search engine Yahoo will name PayPal President Scott Thompson as CEO, according to sources. He would replace former CEO Carol Bartz, who was fired in September. Thompson is currently running PayPal, eBay’s online payment unit.