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Yahoo has a new CEO, Finally
Fremont: PayPal President Scott Thompson to become Yahoo’s new leader and a board member announced Yahoo! today. Yahoo! had fired Carl Bartz, who failed in her attempts to turn around the company revenue during her 36 month tenure as a CEO. Tim Morse, chief financial officer of Yahoo!, has been interim CEO since Bartz's ouster.
"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 in a statement today.
Thompson will take command on January 9, even as the board, which he also will join, negotiates to shed some of its valuable stakes in Asian Internet companies and to potentially sell a minority stake in Yahoo to private-equity investors.
Thompson has been the president of PayPal, eBay's online payment service, since January 2008, according to his bio on eBay's web site. He previously served as PayPal's senior vice president and chief technology officer. Thompson said he wants to "deliver Yahoo's next era of success" by dealing with both Yahoo advertisers and users.
Thompson said he wants to "deliver Yahoo's next era of success" by dealing with both Yahoo! advertisers and users.