NEW YORK ( TheStreet) -- Yahoo (YHOO - Get Report) has named ex- Google (GOOG) executive Marissa Mayer as its new CEO. In my opinion, this is a bad idea despite the initial rise in the share price in after-hours trading.
Mayer, 37, has never had any experience running a company, much less one as troubled as Yahoo!. While considered a top engineering talent and a public face of Google, Mayer's talents are different than what Yahoo! needs.
Yahoo! was (is? who knows anymore?) trying to turn itself into a media company following the departure of former CEO Scott Thompson, who tried to turn the company into a data mining and commerce company. If Yahoo! wants to be a media company, interim CEO Ross Levinsohn had the track record and would have been the perfect candidate for the job.
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