Yahoo names PayPal exec as its CEO

[Hum]

NEW YORK (AP) ? Yahoo Inc. has named Scott Thompson, president of eBay Inc.'s PayPal division, as its new CEO.

The struggling Internet company, which announced its choice Wednesday, has been without a permanent CEO since early September. It fired Carol Bartz after losing patience with her attempts to turn around the company during her 2 ½ years on the job. Tim Morse, Yahoo's chief financial officer, has been interim CEO since Bartz's ouster.

Thompson has served as president of PayPal, eBay's online payment service, since January 2008. He previously served as PayPal's senior vice president and chief technology officer.

Sunnyvale, Calif.-based Yahoo said Thompson's new job starts on Jan. 9. Morse will return to his CFO post.

Yahoo Chairman Roy Bostock said Thompson's track record of building on existing resources "to reignite innovation and drive growth" is "precisely the formula we need at Yahoo."

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[Phouchg]

They're! screwed! anyway!

[BetaAddict]

I'm not even sure what Yahoo is anymore. They have a few high value properties, like Finance, News, Sports, and Flickr, but there is only so much they can monitize those sites from ad revenues. I still think at a $20B market cap right now, MS could still come in scoop them up for much cheaper than their $38B offer a couple years ago.

[+Warwagon MVC]

I just wish paypal would bring back the 1 time use credit card number.............oh wait... this story is about yahoo? My bad! :laugh:

[FMH]

Good news. I am really interested in hearing about his strategy going forward.