Former PayPal president becomes new Yahoo CEO

After nearly four months, Yahoo has finally picked its new CEO. The web content company announced today that former PayPal president Scott Thompson will take over the CEO role. Officially Thompson will begin working at Yahoo on Monday. He replaces Carol Bartz in that position, who was famously, or rather infamously, fired over the phone by Yahoo's board of directors in September.

Thompson became president of PayPal in early 2008 and his departure from the company to become Yahoo's new CEO seems to have taken some people at PayPal by surprise. In an internal memo to PayPal employees posted on AllThingsD.com, John Donahoe, the CEO of PayPal's parent company eBay, said that Thompson informed him of his new Yahoo job on Tuesday afternoon. He added, " ... I’m sure Scott’s decision is a shock to many of you, as it was to me." Donahoe will be the interim president of PayPal until a replacement is found.

Thompson comes into his new gig on the heels of rumors that Yahoo is trying to sell off at least part of its business. Microsoft is among the many different companies that have been rumored for months to purchase at least a portion of Yahoo but so far there has not been any deals made.

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8 Comments

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smooth3006 said,
i love yahoo and ive always used them but i think they are doomed to fail like hp and rim.

HP is no where near failing. Bad decisions, sure. Doomed??? No!

Same for Rim, but it will require more efforts, then reversing bad decision made by previous ceo.

panacea said,

HP is no where near failing. Bad decisions, sure. Doomed??? No!

Same for Rim, but it will require more efforts, then reversing bad decision made by previous ceo.


HP should go back to putting their names on signal generators, oscilloscopes, spectrum analyzers, etc. For what it's worth, I've calibrated items made by HP (now called Agilent), and knew that these were the most reliable products that HP made.

c3ntury said,
I bet the '$$$' signs were gleaming in his eyes from the moment he signed the contract.

Plus he probably no longer has to wait a week for his pay to be deposited from his PayPal balance...