Google VP Mayer named Yahoo CEO

Yahoo is hiring longtime Google executive Marissa Mayer to be its next chief executive, the fifth in five years as the company struggles to rebound from financial malaise and internal turmoil.

Mayer, who starts at Yahoo Inc. on Tuesday, was one of Google's earliest employees and was most recently responsible for its mapping, local and location services. Mayer, 37, began her career at Google in 1999 after getting her master's degree at Stanford, the school Google's co-founders attended.

Fred Amoroso, Yahoo's chairman, says the board was drawn to Mayer's "unparalleled track record in technology, design, and product execution."

Yahoo's website remains among the most popular destinations on the Internet with 700 million monthly visitors, but the company has struggled to turn those visits into ad revenue growth. Yahoo's decline has been exacerbated by the success of Internet search leader Google Inc. and social networking leader Facebook Inc.