Since arriving from Google (GOOG) last July, Mayer has taken several steps to turn Yahoo (YHOO) around. She brought in a new chief marketing officer and heads of sales and HR, among other executives. She’s also made efforts to boost employee morale by instituting free lunches and handing out iPhones, Android devices and Windows-powered phones to staffers.
Yahoo has over 700 million users and plenty of popular products, including email and its sports and news sites. The company’s stock is up nearly 19% since Mayer took over last summer. But the 37-year-old CEO has a long road ahead, and has already said that a turnaround will take multiple years. To succeed in making Yahoo a “growth company” again, she’ll need to secure the company’s position as a leader in mobile apps and offerings–a tall order for a company that doesn’t own its own mobile browser, operating system or hardware.
Unsurprisingly, Mayer is optimistic. ”We have a terrific set of assets on the web–all the things people want to do on their mobile phone,” said Mayer. “The interesting thing is when you look at what people want to do on their phone, it’s mail, weather, check stock quotes and news. That’s Yahoo’s business. This is a huge opportunity for us because we have the content and all the information people want on their phones.”
[Mayer smiles onstage at the Fortune Most Powerful Women event in Palo Alto, CA, Tuesday night. (Photo by Don Feria/Getty Images for Fortune)]