Thumbnail: 

Yahoo has named PayPal president Scott Thompson as their new CEO, four months after former chief Carol Bartz was fired.

Internim CEO Tim Morse will resume his full-time duties as CFO, the company said in a statement on Wednesday. Effective January 9, Thompson will also join the company’s board.

With Thompson at the helm, PayPal has becoming a driving force for much of eBay’s revenue growth since its core eBay e-marketplace business became stagnant. Meanwhile, the e-payment unit’s annual revenue grew from $1.8 billion to more than $4 billion.

"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," said Roy Bostock, chairman of Yahoo's board.

In his new role at Yahoo, Thompson will be required to tackle a problem that his three predecessors weren't able to solve: Repositioning Yahoo as technology leader in the consumer Internet services market and beefing up the company's financial performance.

Following Bartz’s departure, the company has been been plagued with rumors about its future, including the possibility that it would be sold as a whole or in parts to competitors AOL, Microsoft or Google, or that investors and co-founder Jerry Yang would acquire and turn Yahoo into a privately held company.

After Bartz's firing, multiple rumors have emerged regarding the company's future, including the possibility that the board would sell it whole or in parts to reported suitors like AOL, Microsoft or Google, or that investors led by Yang could buy it and turn it into a privately held company.
 

Quote Image: