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
1/4/2012 6:45:37 PM
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.
"So, I think the same thing of the music industry. They can't say that they're losing money, you know what I'm saying. They just probably don't have the same surplus that they had." -- Wu-Tang Clan founder RZA
Former Yahoo CEO Carol Bartz: Yahoo “F***ed Me Over"
September 8, 2011, 10:21 PM
You're Fired: Yahoo CEO Carol Bartz Gets the Boot
September 6, 2011, 10:57 PM
Twitter Senior VP: "Diversity is Important, But We Can’t Lower the Bar"
November 9, 2015, 9:59 AM
CNN Resorts to Internet Censorship to Promote Clinton Over Senator Sanders
October 15, 2015, 2:47 PM
Breaking Bad: How to Crash Google's Chrome Browser With Just 8 Characters
September 23, 2015, 11:08 AM
Quick Note: Amazon UK Offers £10 Back on Any Order £50 or Over
August 3, 2015, 12:05 PM
Editorial: Reddit Allows Itself to be Hijacked as a Hate Platform For Racist Bigots
July 21, 2015, 6:32 PM
Mozilla and Facebook to Adobe: It's Time to Kill Flash
July 20, 2015, 6:30 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 2016 DailyTech LLC. -
Terms, Conditions & Privacy Information