Yahoo! Appoints New CEO

Mr Thompson most recently served as president of PayPal, a division of eBay. Prior to PayPal, he was executive vice president of technology solutions at Inovant, a subsidiary of Visa.

Mr Thompson was also chief information officer of Barclays Global Investors. In addition, he worked with Coopers and Lybrand, delivering information technology solutions to leading financial services clients.

Roy Bostock, chairman of the Yahoo! board, said: “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!.”

“His deep understanding of online businesses combined with his team building and operational capabilities will restore the energy, focus, and momentum necessary to grow the core business and deliver increased value for our shareholders. The search committee and the entire Board concluded that he is the right leader to return the core business to a path of robust growth and industry-leading innovation.

“Scott’s primary focus will be on the core business, and as CEO and director, he will work closely with the board as we continue the strategic review process to identify the best approaches for the company and its shareholders. As part of this process, Yahoo! is considering a wide range of opportunities for the company's business, as well as specific investments or dispositions of assets.”

Will Mr Thompson’s experience beneficial for Yahoo!?

Have your say and discuss with your peers on the InfoGrok community.

Participate by posting your comments now.