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
Top Gaining Stocks
Top Losing Stocks