For a long period of time, Yahoo was a company that struggled to land a Brand Champion at the helm. In the course of three years, they went through five CEOs. During that time, Yahoo’s stock took a tumble during the dot com bust, bringing it to a low of $4.41 in September 2001. Their most prosperous CEO to date, Marissa Mayer, was appointed in July 2012. Having arrived from Google, she brought with her a vision for the floundering Yahoo.
Mayer has put an end to telecommuting and was widely criticized for bringing employees into the ranks. However, Mayer felt it was necessary to change the culture and get the company back on track. With this vision and passion, Mayer was able to sell her view not only to those within the company, but also to Wall Street. She further helped Yahoo acquire Tumblr and led them to begin generating their own original content, including hiring Katie Couric as their Global News Anchor. As a successful Brand Champion, Yahoo’s stock has nearly tripled since Marissa stepped in.
Brand Champions have a resounding effect on their company’s performance, because of their intention to succeed, their drive, passion and leadership.