Yahoo appointed former PayPal president as the new CEO

Yahoo on January 4 appointed former PayPal chairman Scott Thompson to be the new chief executive, four months after dismissing Carol Bartz for his character's failed attempts to turn the tide.

Yahoo said Thompson will focus on the company's core business and work with the board to "identify the best approaches for companies and shareholders ."

Mr. Thompson will start taking on his new post on January 9, and Tim Morse, who is currently Yahoo's CEO, will hand over the position to continue as chief financial officer.

Mr. Thompson served as president of PayPal, eBay's online payment service since January 2008. Previously, he served as senior vice president and chief technology officer of PayPal.

In a statement, Yahoo Chairman Roy Bostock affirmed: " Mr. Thompson came to Yahoo with a proven record of promotion on a solid foundation of assets and resources available to re-source. creative and motivating growth That's exactly the formula we need at Yahoo. "