Yahoo poaches PayPal president Scott Thompson

Scott Thompson, the former president of online payment specialist PayPal, has left the company to become the new CEO of Yahoo.

Yahoo’s previous CEO Carol Bertz was controversially sacked last September. Interim CEO Tim Morse will now return to his role of Yahoo’s CFO.

Thompson has been the president of eBay since 2008, during which time the company doubled its user base to in excess of 100m users.

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,” Yahoo chairman Roy Bostock stated.

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.”

About MCV Staff

Check Also

Technology and the market will set the cost of triple-A productions – it’s not an inevitable and negative escalation

The idea that the industry will stagnate because of rising costs is a historically flawed argument based on historical data