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Internet Yahoo Appoints PayPal President as New CEO
Tiffany Kaiser - January 4, 2012 9:47 AM

11 comment(s) - last by seamonkey79.. on Jan 4 at 6:45 PM

New Yahoo CEO Scott Thompson (Source: syracuse.com)

Yahoo chooses PayPal head Scott Thompson as Yahoo CEO

After months of searching, Yahoo has finally selected a new chief executive officer to take the helm. According to The Wall Street Journal, Yahoo has appointed PayPal President Scott Thompson as Yahoo CEO.

Since 2008, Thompson has been in charge of eBay's online payment system PayPal. Before that, he was its chief technology officer.

Yahoo could certainly use Thompson's help. After growing quickly in the 1990's, Yahoo was unable to keep up the momentum in the 2000's with other competitors rising up. Then, in 2008, Yahoo declined a takeover bid from Microsoft worth $44 billion. It later took a beating during the global financial crisis, leaving it with a market value of only $20 billion. Investors were upset with Yahoo co-founder Jerry Yang for how the bid was handled, and he stepped down in late 2008.

Yahoo suffered further leadership issues last year when the abrasive Carol Bartz, former Yahoo CEO, was fired in September 2011. She was famous for telling Michael Arrington to "f**k off" in 2010 at the TechCrunch Disrupt conference in New York City, and never thought twice about speaking her mind in front of anyone and everyone.

After Bartz's departure, Yahoo named Tim Morse, former Yahoo chief financial officer, interim CEO until a permanent figure could be found.

Now, Yahoo has announced this morning that the selection is official. Thompson is in.

"Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo," said Chairman Roy Bostock.

Thompson will join the board as well on January 9.

Sources: Reuters, The Wall Street Journal

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Stop the annoying parts of PayPal

By Mitch101 on 1/4/2012 9:54:22 AM , Rating: 2

I really like PayPal but they need to stop being annoying.

1 - Stop the popup adds promoting Bill Me Later or at least let me opt out of it. I didnt choose it the last 100 times the 101st isn't changing my mind your annoying me now.

2 - Let me set my Primary billing to be something other than my bank account and when I change it don't ask me if I'm sure with the glowing button to the option I didn't want.

3 - While I haven't had any dispute issues I hear a lot of people complain about that so I wont comment other than I hear that PayPal favors the seller not the buyer.

RE: Stop the annoying parts of PayPal

By smackababy on 1/4/2012 10:11:43 AM , Rating: 2

From what I've heard, PayPal sides with the selling a lot. Read some of the seller horror stories about eBay / PayPal.

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RE: Stop the annoying parts of PayPal

By Indianapolis on 1/4/2012 1:08:01 PM , Rating: 2

In regards to point 3, you've been grossly misinformed. In disputes, eBay/PayPal generally favor the seller. At least in cases of small-time sellers. Unfortunately, I know this from experience. I can't speak for the mega-sellers on eBay.

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RE: Stop the annoying parts of PayPal

By Indianapolis on 1/4/2012 1:08:41 PM , Rating: 2

Doh! I meant to say that they favor the BUYER.

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RE: Stop the annoying parts of PayPal

By Samus on 1/4/12, Rating: 0

Wow

By Motoman on 1/4/12, Rating: 0

RE: Wow

By AssBall on 1/4/2012 11:38:01 AM , Rating: 2

Since Bartz was fired and Yahoo changed all of their comments and profile stuff, it is way more annoying to use now. Might have to start going with google+.

I would have told Arrignton to "F**k off" too :).

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RE: Wow

By MrBlastman on 1/4/2012 11:58:27 AM , Rating: 2

While PayPal might be evil and I don't care for them that much, I must admit that before Ebay, buying old, ancient electronic junk was a PITA. Nowadays, I just hop on the web, search for a relic of long ago (shameless plug: currently looking for a Roland MPU-401 unit + ISA board) and place some bids. Granted, there are scheisters on Ebay, I've for the most part done well buying stuff off of there.

I completely remember what it was like back in the 1980's trying to buy electronic or computer equipment. It sucked. It took forever. I much prefer being able to do it online.

If something better than Ebay came along that allowed me to do the same--I'd be quick to go there and give it a shot.

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RE: Wow

By Motoman on 1/4/2012 3:12:45 PM , Rating: 2

Buying is never the problem. As a buyer, eBay fully endorses and supports your efforts to defraud innocent sellers in any and all ways imaginable.

Because eBay is a monopoly, sellers have to either give up on online auctions, or just put up with it.

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RE: Wow

By seamonkey79 on 1/4/2012 6:45:37 PM , Rating: 2

They're the best of both worlds. Ebay helps you defraud people, and Paypal gives people their money back when you accidentally sell them the right thing.

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PayPal sucks

By kjboughton on 1/4/2012 3:32:36 PM , Rating: 2

PayPal (they are NOT your "pals") have demonstrated time and time again the premise of their unscrupulous organization - taking and holding others' money with zero accountability.

Stay away. You have been warned.

An alternative, for those that need one:
https://www.wepay.com/