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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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Wow
By Motoman on 1/4/2012 10:44:25 AM , Rating: 0
eBay/PayPal is the greatest concentration of evil a legal corporation can possibly be. Nice going, Yahoo - once again you've beaten the odds and found yet another way to suck even more than you already did.

Write them off.




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 :).


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.


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.


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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