Marissa Mayer is the new CEO of Yahoo

Google (GOOG) vice president Marissa Mayer is the new CEO of Yahoo (YHOO).

Credit: Asa Mathat

More on her appointment--a big surprise--later. She just called me and said, "It's true."

Employee No. 20 at Google, Mayer, 37, rose through the ranks to oversee local and location services. She says she is starting at Yahoo tomorrow. "There's a lot to do," she says.