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Yahoo was very much in the news over the last year, for all the wrong reasons. It hired Scott Thompson as the CEO and he left under very dubious circumstances after a mere four.months in the hot seat. He was shown the door for a cooked up resume, perhaps the first CEO of a high-profile company to be shown up like this. What next, wondered industry watchers. What was going on at Yahoo a one time iconic company that it was being jostled with such turbulence at the top?Now comes news that many didn’t expect. A new CEO has been appointed. The third in this year. Industry watchers and other curious onlookers had lots to talk about when it was made known that the new CEO was a lady. They did have a lady CEO before. Remember Carol Bartz, who was fired in September because she failed to revitalize the company? The new CEO is not just another lady. She is Marissa Mayer who made a huge name for herself at Google, which she joined way back in ’99 as their first woman geek.

Zachary Karabell, writing in the Daily Beast , has put it dramatically, “The tech giant now middle-aged and developing a paunch, is hoping its youthful new CEO will restore the vitality of a franchise and brand that are on the precipe of irrelevancy and viability.”

Marissa cracks another glass ceiling as she takes up this new responsibility, coming as it does at a crucial period of Yahoo’s history. Will she be able to bring back some of the old magic. Will she be able to replicate her successes at Google? There she was credited with stunning achievements like the Google search engine, and G-mail amongst others.

At 37, Mayer has a unique opportunity to become a major role model for women who seek out a career in technology. As she told CNN, “If you can find something that you’re really passionate about, whether you’re a man or a woman comes a lot less into play. Passion is a gender-neutralizing force.”

There seem to be exciting times ahead for the folks at Yahoo. Their investors must be hoping that this is one move that pays off, and pays off-big!