Yahoo names PayPal President Scott Thompson as CEO

Yahoo named Scott Thompson as its new CEO after running the company without a leader for four months, amidst several shareholders’ calls to sell the company. Thompson will relieve the company’s interim CEO Tim Morse who will return to his position as chief financial officer. The appointment of Thompson, previously the president of PayPal (under whose leadership the company more than doubled its active userbase as well as its revenues), follows the ouster of Carol Bartz who was unceremoniously fired by the company’s board via phone in the month of September. Thompson hailed Yahoo “an industry icon” with a “rich history.” On a conference call following the announcement, journalists and analysts threw a volley of questions at Thompson and he said he requires time on the job to develop strong answers – “It’s too early for me to have any informed opinion as to the display space, what’s going on there and what’s happening next”. He continued, “I have a lot to learn, and it’s still very early days … but down in that data we’re going to find ways to innovate and compete.” The chairman of Yahoo’s board of directors, Roy Bostock, was also on the call.