Savitt, a former marketing executive at Amazon.com and American Eagle Outfitters, most recently founded Lockerz, a social commerce website that let online shoppers share links to clothing and accessory deals.
In a shock move, Mayer, 37, took the reins as Yahoo CEO in July after spending more than a decade as a high-profile employee at rival Google Inc.
Since her arrival, top Yahoo executives including interim CEO Ross Levinsohn have departed while Mayer began recruiting her deputies.
Lockerz said Monday that Chief Operating Officer Mark Stabingas will replace Savitt as CEO.
(Reporting by Gerry Shih; Editing by Lisa Shumaker)
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