The move, which Yahoo officially announced late Monday, is a coup for the company, which has been embroiled in turmoil, both at an executive level and financially, for the past several years. The company has lost two CEOs, making Mayer the search company’s third CEO in a year.
“I’m incredibly excited to start my new role at Yahoo! tomorrow,” Mayer tweeted, shortly after Yahoo announced her hiring.
The company has been searching for a new CEO ever since its last chief executive, Scott Thompson, resigned in May, embroiled in an investigation over the legitimacy of his academic credentials. He had been with the company for only five months.
Thompson was brought on after his predecessor, Carol Bartz, was let go in September 2011.
It’s been a tough year for a company that was once a shining internet pioneer but has struggled financially and fallen behind other internet companies, including Google, Facebook and Twitter.
Stepping in to take over Yahoo will be a challenge for Mayer.
“I am honoured and delighted to lead Yahoo, one of the internet’s premier destinations for more than 700 million users,” Mayer said in a statement from Yahoo. “I look forward to working with the company’s dedicated employees to bring innovative products, content and personalised experiences to users and advertisers all around the world.”