Sunday, January 8, 2012

Scott Thompson - Yahoo gets new CEO

Global Internet giant Yahoo has a new boss. Former PayPal President Scott Thompson has been named the new Chief Executive of Yahoo on Wednesday. The news comes after Carol Bartz was sacked from the post for failing to deliver in her turnaround effort.

After rumours were doing the rounds that the company was welcoming potential buyers, Yahoo in a statement said that Thompson would focus on Yahoo's core business and work with the board to 'identify the best approaches for the company and its shareholders'.

Chairman Roy Bostock in a statement added, "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. 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."

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