Yahoo names PayPal’s Thompson as CEO
2012-01-16 18:21
LOS ANGELES, Jan 4 — Yahoo named PayPal President Scott Thompson as its chief executive, taking over on January 9 from interim CEO Tim Morse, who will resume his role as chief financial officer.
Thompson’s appointment comes five months after the firing of former CEO Carol Bartz as former Web powerhouse Yahoo struggles to compete with newer heavyweights Google and Facebook.
Thompson, who will also join Yahoo’s board, had run PayPal, the online payments unit of eBay, since early 2008, and was previously its chief technology officer. Under his leadership Yahoo said PayPal increased its user base from 50 million to more than 104 million active users. PayPal processed US$29 billion (RM91 billion) in payments in the third quarter of 2011.