Yahoo’s New CEO Loves Obama
She was a top executive at Google for 13 years, she’s a self-professed math geek, she’s considered to be one of the industry’s brightest executives, she’s the new Chief Executive Officer of Yahoo, and she’s only 37-years-old.
She has also bundled thousands of dollars for Democrats and even hosted a fundraiser at her house for President Obama in 2010.
Marissa Mayer, who on Tuesday took over as Yahoo’s fifth CEO in the past five years, certainly has her plate full with her new gig.
Yahoo announced Tuesday another lackluster set of financial results in the second quarter. The company earned $227 million, a 4 percent decrease from a year ago. In the last five years, Yahoo’s stock has tumbled 41 percent. It closed Tuesday at $15.60.
“The surprise hiring announced late Monday indicates Yahoo still believes it can be an Internet innovator instead of merely an online way station where people pass through to read a news story or watch a video clip before moving on to more compelling Internet destinations,” the Associated Press reports.
“I just saw a huge opportunity to have a global impact on users and really help the company in terms of managing its portfolio, attracting great talent and really inspiring and delighting people,” Mayer said during a Monday interview with The Associated Press.
Mayer will try to reverse the financial malaise as Yahoo tries to match the growth of rivals Google and Facebook Inc. Both companies have been prospering as advertisers spent more money on Internet advertising.
But what was that about her Democrat contributions? Yep, turns out she really likes shoveling money in that direction.
“Mayer … has participated in Democratic political fundraising drives … and has given to Obama annually since 2007,” POLITICO reports.
In fact, she contributed $35,800 to the Obama Victory Fund last year.
“In 2011, she gave $30,800 to the Democratic National Committee. In 2010, she gave two donations of $30,400 to the DNC,” POLITICO adds. “She also has bundled between $100,000 and $200,000 for Obama for America and Obama Victory Fund 2012.”
However, as POLITICO notes, she doesn’t always donate to Democrats. She once contributed $2,500 to Sen. Olympia Snowe (R-Maine).
Wait, that doesn’t really count, does it?
“Since arriving at Google just over 13 years ago as employee No. 20, Marissa has been a tireless champion of our users,” Google CEO Larry Page said in a statement. “She contributed to the development of our Search, Geo, and Local products. We will miss her talents at Google.”
Nevertheless, considering the financial health of Yahoo, Mayer may have her work cut out for her.
“For me work is fun, and fun is work,” Mayer said. “I am very excited about the big challenges here, and I can’t wait to work on them. It’s going to be very, very energizing.”
The Associated Press contributed to this report.
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