Yahoo this morning announced that it’s appointing PayPal President Scott Thompson as their new CEO. This appointment will be effective January 9th. Yahoo is said to have been impressed by Thompson’s record at eBay, where he doubled PayPal’s userbase and grew the online payments service into one of eBay’s biggest revenue generating sources.
Despite the company’s troubles and lagging product development, it’s still an enormous brand with hundreds of millions of users spread across Yahoo Mail, Flickr, and it’s other services. Meanwhile Interim CEO Tim Morse will return as CFO. Will the PayPal genius be able to give Yahoo some sort of a revival ? Only time will tell.
