Yahoo today announced that it has appointed Marissa Mayer as President and Chief Executive Officer and Member of the Board of Directors effective July 17, 2012.

The appointment of Ms. Mayer, -- one of Google's first employees -- signals a renewed focus on product innovation to drive user experience and advertising revenue for Yahoo.

Mayer said, "I am honored and delighted to lead Yahoo!, one of the internet's premier destinations for more than 700 million users. I look forward to working with the Company's dedicated employees to bring innovative products, content, and personalized experiences to users and advertisers all around the world."

Most recently, Mayer was responsible for Local, Maps, and Location Services for Google, the company's suite of local and geographical products including Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile. Mayer joined Google in 1999 as its 20th employee and led efforts for many of Google's most recognizable products, including the development of its flagship search product and iconic homepage for over 10 years.

"Yahoo's products will continue to enhance our partnerships with advertisers, technology and media companies, while inspiring and delighting our users. There is a lot to do and I can't wait to get started," Mayer said.