The New York Times got the scoop of the year today when it announced that Yahoo has hired Google’s Vice President of Location and Local Services, Marissa Mayer as its next CEO, replacing Ross Levinsohn who took over as interim chief following the removal of Scott Thompson in May. Mayer, who had been the public face of Google outside of the top three power players, becomes Yahoo’s third CEO in less than a year, and the fifth in five years.

The appointment caught everybody by surprise as Ross Levinsohn had been strongly considered as the next CEO of Yahoo following the two month search. The former News Corp executive and head of Yahoo’s global media had made two crucial deals that had everybody thinking he was set to retain his position permanently at Yahoo.

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