Yahoo Taps PayPal's Scott Thompson As CEO
Scott Thompson, eBay Inc.'s top executive, was hired by Yahoo Inc. He was designated as the new chief executive while attempting to proceed with an independent unit. The move had created more rumors regarding the Yahoo's future.
Mr. Thompson, 54, president of the PayPal electronic payment system from eBay, is responsible for improving the Internet Company's major online marketing business. His employment followed over four months of tactical midpoint when Sunnyvale, California conducted an operation with no permanent head after Carol Bartz, CEO, was fired September.
With the new CEO, the company continues to encounter a lot of intentional queries with several choices still lying on the table, said some people who know the issue.
It will still be difficult for Yahoo to decide between selling a marginal stake to private-equity investors and shedding a few of its expensive stakes in many Internet companies based from Asia.
The new chief executive will carry out a huge responsibility in the continuing strategic evaluation that the company's board is currently working on. He will also play a critical position in the company's decision involving stakes from the Asian Internet Company including negotiation with most of the private-equity investors. .
At the day of proclaiming Mr. Thompson's position, Roy Bostock, Yahoo chairman, recognized the fact that the tactical assessment of Yahoo is not yet over.
Both Thompson and Bostock said, however, that their main concern now is the turning around of the company's major online-advertisement business with competitors Facebook Inc. and Google Inc.
Mr. Thompson, who is going to carry his role next week, desire to bring back Yahoo's status and be once again claimed as "one of those great iconic brands" on the Internet. He would focus on improvements.
Being the CEO, he looks forward to employing skilled executives to assist him in running the company to the right route.