Yahoo! announced that Scott Thompson will be taking over the role of Chief Executive Officer from January 9, 2012. He will be taking the seat from Tim Morris and will also be given the seat to the Company Board of Directors from the same date. Yahoo!’s new CEO Scott Thompson was previously the President of PayPal, a sister concern of eBay.
It was under PayPal that he showed his mettle as a person who can deliver, by making PayPal’s lead go mammoth in the online payment network. In his reign the company expanded from 50 million users to over a whopping 104 million users in over 190 countries. He was also the mastermind who expanded the merchant partners to over an impressive 8 million worldwide.
Scott Thompson
The revenues also toppled the previous mark, going from $1.8 million to an unassailable $4+ billion. Other than PayPal, Scott Thompson has worked as the Executive Vice President of Inovant, Chief Information Officer of Barclays Global Investors and has also provided his expertise to Coopers & Lybrand.
The Chairman of Yahoo! is very enthusiastic about having Scott Thompson aboard and believes Scott’s past record is a clear proof of how he can build a solid foundation of the existing assets as well as resources to help Yahoo! reignite the drive growth and innovation. Yahoo! aims to revamp the spark of progress that has been part of this company for so long and Scott Thompson may just be at the driver’s seat of all this.
