Marissa Mayer has been named the CEO of Yahoo, the company's fifth in the past five years, according to the New York Times. Despite having a sizable web audience, Yahoo has struggled to attract advertisers, increase revenue, or cut costs. While Yahoo was once the biggest revenue generators on the internet, in terms of market share of online display ads, the company was passed by Google and Facebook last year. Mayer, 37, will be looking to give the company a bold, fresh vision while reassuring investors the company will continue to be profitable.
Previous to her being named CEO, Mayer was with Google for 11 years where she worked as an engineer on Google's search and Gmail features. Ross Levinsohn, Yahoo's interim CEO, was also considered for the position but Yahoo elected to go outside the company.
Yahoo! announced earnings for the second quarter of 2012 were flat compared to the second quarter of 2011, according to paidContent. Some of the specific quarter-to-quarter numbers for Yahoo include: unique users up 2%, profits of $190 million compared to $191 last year, page views up 5%but minutes on site were down 10%, and the company ended the quarter with 12,500 employees, down from 13,400 last year.