Yahoo Appoints PayPal President as New CEO
January 4, 2012 9:47 AM
comment(s) - last by
New Yahoo CEO Scott Thompson
Yahoo chooses PayPal head Scott Thompson as Yahoo CEO
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
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.
The Wall Street Journal
This article is over a month old, voting and posting comments is disabled
RE: Stop the annoying parts of PayPal
1/4/2012 10:11:43 AM
From what I've heard, PayPal sides with the selling a lot. Read some of the seller horror stories about eBay / PayPal.
"We don't know how to make a $500 computer that's not a piece of junk." -- Apple CEO Steve Jobs
Obama Prepares to Sign Contentious Patent "Reform" Bill
September 12, 2011, 9:52 AM
You're Fired: Yahoo CEO Carol Bartz Gets the Boot
September 6, 2011, 10:57 PM
Netflix Announces 7-to-1 Stock Split, Eyes Explosive Overseas Growth
June 23, 2015, 8:18 PM
Sources: Hack on Fed. Database Lost 4.1M Social Security Numbers, Personal Info
June 11, 2015, 9:11 PM
The Big One: Chinese Hackers Steal Records of 4 Million U.S. Gov. Employees
June 4, 2015, 8:13 PM
Tutorial: Here's How to Force YouTube or Vimeo VIdeos to Embed as HTML5
June 3, 2015, 10:14 PM
Google Finally Fixes Maps Bug That Was Giving Racist, Profane Results
May 21, 2015, 1:43 PM
The Pirate Bay Loses Its Iconic Swedish Dot SE Domains
May 20, 2015, 6:31 PM
Most Popular Articles
F-16 Schools Trillion-Dollar F-35 in Mock Combat, Fleeing is Best Option Pilot Admits
July 1, 2015, 5:53 PM
Apple Music: The Money, The Launch Hiccups, and the Nitty Gritty Details
June 30, 2015, 5:09 PM
Apple iOS 8.4 Rolls Out w/ Fix to Crash-Causing Unicode Text
June 30, 2015, 3:24 PM
Windows XP, Vista Users Can Get Free Windows 10 Upgrade Thanks to Loophole
June 23, 2015, 2:23 PM
Quick Note: Lumia 940 XL "Cityman" Phablet Gets Teased Via Tests
June 29, 2015, 5:51 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information