Marissa Mayer, vice president, search products and user experience for Google, will be the new CEO of Yahoo. (Photo: Robert Galbraith / Reuters)

The move, which Yahoo officially announced late Monday, is a coup for the company, which has been embroiled in turmoil, both at an executive level and financially, for the past several years. The company has , making Mayer the search company's third CEO in a year.

"I'm incredibly excited to start my new role at ! tomorrow," Mayer tweeted, shortly after Yahoo announced her hiring.

The company has been searching for a new CEO ever since its last chief executive, Scott Thompson, in May, embroiled in an investigation over the legitimacy of his academic credentials. He had been with the company for only five months.

Thompson was brought on after his predecessor, Carol Bartz, in September 2011.