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Yahoo raids Google’s ranks for its latest CEO
SAN FRANCISCO—Yahoo has hired longtime Google executive Marissa Mayer as its next CEO in the Internet company’s latest attempt to burnish its image and revive its financial growth after years of often-demoralising upheaval. The surprise move announced Monday makes Mayer the fifth Yahoo CEO in the past five years to attempt to turn around an Internet icon that has become as well-known for its follies as its online services.
Yahoo Inc., which is based in Sunnyvale, California, has lost its luster, while Google Inc and Facebook surged ahead in the battle for the attention of Web surfers and marketing budgets of advertisers. The struggles have depressed Yahoo’s stock, pressuring the company to find a leader with the charisma, vision and skills to turn the tide.
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