Yahoo! Appoints Marissa Mayer Chief Executive Officer

SUNNYVALE, Calif., July 16, 2012: Yahoo! (NASDAQ:YHOO) today announced that it has appointed Marissa Mayer as President and Chief Executive Officer and Member of the Board of Directors effective July 17, 2012. The appointment of Ms. Mayer, a leading consumer internet executive, signals a renewed focus on product innovation to drive user experience and advertising revenue for one of the world’s largest consumer internet brands, whose leading properties include Yahoo! Finance, Yahoo! Sports, Yahoo! Mobile, Yahoo! Mail, and Yahoo! Search.

Mayer said, “I am honored and delighted to lead Yahoo!, one of the internet’s premier destinations for more than 700 million users. I look forward to working with the Company’s dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world.”

Most recently, Mayer was responsible for Local, Maps, and Location Services for Google, the company’s suite of local and geographical products including Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile. Mayer joined Google in 1999 as its 20th employee and led efforts for many of Google’s most recognizable products, including the development of its flagship search product and iconic homepage for over 10 years. Mayer managed some of Google's most successful innovations, launching more than 100 features and products including image, book and product search, toolbar, iGoogle, Google News, and Gmail – creating much of the “look and feel” of the Google user experience.

Yahoo! Co-Founder David Filo said, “Marissa is a well-known, visionary leader in user experience and product design and one of Silicon Valley’s most exciting strategists in technology development. I look forward to working with her to enhance Yahoo's product offerings for our over 700 million unique monthly visitors.”

“The Board of Directors unanimously agreed that Marissa’s unparalleled track record in technology, design, and product execution makes her the right leader for Yahoo! at this time of enormous opportunity,” said Fred Amoroso, Chairman of the Board of Directors.

Mayer received her B.S. in Symbolic Systems and her M.S. in Computer Science from Stanford University, specializing in artificial intelligence for both degrees. She is credited as an inventor on several patents in artificial intelligence and interface design.

“Yahoo!’s products will continue to enhance our partnerships with advertisers, technology and media companies, while inspiring and delighting our users. There is a lot to do and I can’t wait to get started,” Mayer said.

Marissa Mayer Biographical Information

Marissa Mayer was most recently Vice President of Local, Maps, and Location Services at Google where she oversaw product management, engineering, design and strategy for the company’s suite of local and geographical products, including Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile. She also curated the Google Doodle program, celebrating special events on Google's homepage around the world.

During her 13 years at Google, Marissa held numerous positions, including engineer, designer, product manager, and executive, and launched more than 100 well-known features and products. She played an instrumental role in Google search, leading the product management effort for more than 10 years, a period during which Google Search grew from a few hundred thousand to well over a billion searches per day. Marissa led the development of some of Google's most successful services including image, book and product search, toolbar, and iGoogle, and defined such pivotal products as Google News and Gmail. She is listed as an inventor on several patents in artificial intelligence and interface design.

Joining as the company's first female engineer in 1999, Marissa played an important role in developing Google’s culture. Her contributions included overseeing the look-and-feel of the company's iconic homepage and founding the Associate Product Manager program, which has hired over 300 of the company’s future leaders and is considered the industry’s ideal standard in transforming new computer science graduates into executive leaders.

Prior to joining Google, Marissa worked at the UBS research lab in Zurich, Switzerland and at SRI International in Menlo Park, California. She graduated with honors from Stanford University with a B.S. in Symbolic Systems and a M.S. in Computer Science. For both degrees, she specialized in artificial intelligence. While at Stanford, she taught computer programming to more than 3000 students and received the Centennial Teaching and Forsythe Awards for her contributions to undergraduate education. In 2008, the Illinois Institute of Technology awarded her an honorary doctorate of engineering.

She has been honored with the Matrix Award by the New York Women in Communications, as a Young Global Leader by the World Economic Forum, and as "Woman of the Year” by Glamour magazine. For four years running, Fortune has named her one of the 50 Most Powerful Women in Business, including when at age 33 she was the youngest woman ever included on the list.

Marissa serves on the board of directors of Wal-Mart Stores, Inc. She is also on the board of various non-profits, including the San Francisco Museum of Modern Art, the San Francisco Ballet, and the New York City Ballet.