Yahoo! has appointed Marissa Mayer as President and Chief Executive Officer and Member of the Board of Directors. She will officially take up the top post on July 17.

Interestingly, Mayer was a well-known name in Yahoo's rival company Google. She was the Vice President of Local, Maps, and Location Services at Google where she oversaw product management, engineering, design and strategy for the company's suite of local and geographical products including Google Maps, Google Earth, Zagat, Street View, and local search, for desktop and mobile.

The 37-years-old internet expert expressed her happiness on being appointed as the Chief of Yahoo, replacing interim CEO Ross Levinsohn.

"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," she said.

"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," she added.

People at Yahoo are of the opinion that Mayer, who helped design the look of Google, would help the company bounce back with her experience.

"Marissa is a well-known, visionary leader in user experience and product design and one of Silicon Valley's most exciting strategists in technology development. I look forward to working with her to enhance Yahoo's product offerings for our over 700 million unique monthly visitors," said Yahoo! Co-Founder David Filo.

"The Board of Directors unanimously agreed that Marissa's unparalleled track record in technology, design, and product execution makes her the right leader for Yahoo! at this time of enormous opportunity," said Fred Amoroso, Chairman of the Board of Directors.

Mayer received her B.S. in Symbolic Systems and her M.S. in Computer Science from Stanford University, specializing in artificial intelligence for both degrees. She is credited as an inventor on several patents in artificial intelligence and interface design.