Eureka! Yahoo! Is Out to strike Gold with new CEO

New Yahoo! CEO Marissa Mayer has a full plate. She is tasked with playing catch-up in a highly competitive marketplace by betting Yahoo!’s future on the burgeoning use of mobile devices. In an effort to make up for lost time, Mayer plans on working with strategic partner and software provider Microsoft Corp to employ technology such as automated buying to strengthen Yahoo!’s tenuous display advertising business.

First, Yahoo! needs to trim the fat from unprofitable operations. Mayer plans on jettisoning unprofitable operations such as the South Korean business, where Yahoo is outgunned by inexpensive local rivals who control the market. Secondly, Mayer plans on focusing on smaller acquisitions rather than attempting to buy the company’s way out of the financial doldrums through larger acquisitions.

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Steve Jobs Resigned

Apple co-founder Steve Jobs has resigned as CEO, the company announced Wednesday. His letter to the board and employees did not mention his health problems, but it was alluded to. "I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple's CEO, I would be the first to let you know," he wrote. "Unfortunately, that day has come."

Jobs, who took medical leave in January, will remain on as chairman and former Chief Operating Officer Tim Cook will take over as CEO.

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