Earlier this week Yahoo announced that it has appointed Marissa Mayer as its new Chief Executive Officer. Since that announcement many have been eager to point out that Ms. Mayer has her work cut out for her. By now everyone is aware of the fact that Yahoo is in the middle of what most people would consider a downward spiral. Revenue is flat as social is supplanting many of Yahoo's key services (search, photo sharing, etc.). What most of the critics fail to realize is that Ms. Mayer can and will hopefully bring to Yahoo is something that is crucial to its future: culture.
Similar to many companies in Silicon Valley today Yahoo is struggling to attract engineering talent. Let's face it, very few people dream about working at Yahoo and who can blame them? They aren't doing well to say the least and they lack the singular focus that many of the areas top companies possess (Facebook, Apple). Most people cannot describe what Yahoo is (is it a technology or media company?) or what it's purpose is. Facebook says it wants to connect the world. Google claims that it's goal is to make the world's information accessible for everyone. What Ms. Mayer can do is define what Yahoo's mission statement is. Giving Yahoo a purpose, a new lease on life so to speak can help bring top talent to the company. At Google Ms. Meyer was once of the top Product Managers for the companywith over 1000 product managers reporting to her directly. Her focus on product can help revive some of the untapped potential that exists in Yahoo's most valuable acquisitions (Facebook, intoNow, etc).
Ms. Mayer has the potential to get people excited about Yahoo again and at the end of the day that is far more vital to the future of Yahoo its last quarterly report.