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New CEO on the Block: Yahoo’s Marissa Mayer Reveals Plan for Company Turnaround

Yahoo
by Evan Rodd, PayScale.com

As Yahoo’s third CEO this year, Marissa Mayer is wasting no time turning Yahoo into a fast-paced, mobile force to be reckoned with. She has already replaced chief financial officer Tim Morse, who served as interim CEO last year. Morse has stated he was nervous about working with a new CEO, and rightfully so. Did he know his days were numbered?

Last week, Mayer held an employee meeting to reveal her vision for the new Yahoo. Anonymous employees rushed to dish on their new boss’ plans for company overhaul, though Melissa isn’t sharing any specific details regarding new products or strategies. What Mayer presented was a general vision of the new Yahoo, and it sounds like she has big plans. 

As a former Google-er, Mayer plans to bring Yahoo into the 21st century with a mobile-focused vision, hoping to create a product that is used by consumers every day. Daily interaction with a Yahoo product? That seems to be a lofty goal. 

Any employees who were shocked by the sudden “departure” of Morse should take note – Mayer aims to bring in top tier talent via “acqui-hires” in hopes of securing new visionary engineers. The goal is to provide new talent with new resources, and encourage current employees to step up their game.

Marissa Mayer wants results, and she wants them now. According to Business Insider, projects will only be green-lit if they can scale to 100 million users, or $100 million in revenue. Yahoo will also rely on employees to move faster with more deadlines, ownership, resources, and tools. Will this keep them motivated to perform at the level she wants?

The new Yahoo will be partner-friendly, and hopes to be a strong force in mobile by 2015. Is Mayer’s former employer, Google, threatened by the possibility of a new competitor? Not likely. Google has already stated that it would love to partner with Yahoo, which currently utilizes Microsoft’s Bing as its search provider. Yahoo, however, is contractually obligated to continue its partnership with Microsoft.

What does this all mean? Is Yahoo cheating on Microsoft with Google? Are we about to witness the emergence of a new mobile superpower that will push poor Bing even further down the search engine hierarchy? Only time will tell.

We anxiously await further details regarding Mayer’s ongoing strategy, especially when it comes to compensation, talent acquisition and retention.

 

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