Former Google executive appointed as new Yahoo CEO

Former Google executive Marissa Mayer has been appointed by Yahoo as its third Chief Executive Officer in the space of a year.

Former Yahoo CEO Scott Thompson stepped down in May 2012 after allegations of entering a fake computer degree on his CV.

Prior to Thompson’s resignation, CEO Carol Bartz was fired after two-and-a-half years in September 2011 and Yahoo has since had problems as competition increased with Google and Facebook emerging as the people’s choice.

Despite remaining the largest web portal in the US, Yahoo has failed to become more social and its stock has dropped to less than half its peak value.