The search is over for Yahoo; the tech giant has announced Scott Thompson as its new Chief Executive Officer, effective 9 January 2012. It has been four months for Yahoo after Carol Bartz was fired in last September. Right after choosing as new Yahoo’s CEO, the former PayPal's Scott Thompson said he would recharge growth at the Internet giant that has been losing the battle over online ads.
Chairman of the Yahoo! Board, Roy Bostock, said in a statement about Scott Thompson, “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!”. He also emphasizes, “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 innovations”
Yahoo states tat Thompson works on the company's core business to “identify the best approaches for the company and its shareholders”
In a Yahoo's conference call on Wednesday, Scott Thompson told analysts, “To me Yahoo's core business is providing a great experience for our users. Everything comes from that. To me Yahoo's core business is providing a great experience for our users. Everything comes from that”
Before being employed by Yahoo, Scott Thompson has served as president at Ebay’s giant payment company since 2008 and helped PayPal turn into a massive force in the online payment scene by raising its base from 50 million to 104 million active users across 190 countries
Despite of the impressive achievement, Yahoo will certainly present new challenges for Thompson.
Yahoo Taps PayPal's Thompson As CEO
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