Marissa Mayer, a top executive at Google, has been named the new CEO at Yahoo, according to The New York Times.
In a statement, Yahoo said, "The appointment of Ms. Mayer, a leading consumer Internet executive, signals a renewed focus on product innovation to drive user experience and advertising revenue," according to The Los Angeles Times.
The Times called the move a "surprising coup" for Yahoo, which has struggled to attract talent while competing with Google and Facebook.
The Associated Press noted that Mayer was one of Google's earliest employees.
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Mayer, 37, was in charge of some of Google's most popular products including the search homepage, Gmail, Google News and Google Images, according to The Times.
Most recently, Mayer was in charge of Local, Maps and Location Services at Google, said The LA Times. She oversaw products such as Google Maps, Google Earth, Street View and Zagat.
Mayer said in a statement that she looked forward to working with Yahoo to "bring dedicated products, content and personalized experiences to users and advertisers all around the world," according to The LA Times.
Former CEO Scott Thompson lost his job over misinformation in his official biography, the AP noted. Yahoo has been run during the interim period by Ross Levinsohn, who joined Yahoo in late 2010.
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As CEO, Mayer will join a short list of women in the top spot in Silicon Valley, including the CEOs at Hewlett-Packard, the head of IBM and most recently Facebook's chief operating officer, Sheryl Sandberg.
CNBC said Mayer had been in talks with Yahoo since June and is expected to resign her position at Google on Monday.