Yahoo Announces PayPal President Scott Thompson As Its New CEO – A New beginning

Scott Thompson will be new Chief Executive Officer for Yahoo, effective January 9, 2012. It’s been four long months for Yahoo after ousting Carol Bartz in September. With this move, interim CEO Tim Morse, will return to his role as Yahoo’s CFO.

Who Thompson is?

Thompson comes from PayPal where he served as president at ebay’s giant payment company since 2008. As per Yahoo press release, Thompson help grow PayPal into a massive force in the online payment scene. Under his leadership, PayPal grew its user base from 50 million to 104 million active users across 190 countries. This is a fantastic feast, but is this enough? Yahoo is definitely in need for a change, and this step seems to be going in the right direction.

As of Yahoo:

“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!,” said Roy Bostock, Chairman of the Yahoo! Board said in a statement today. “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 innovation.”

Here are few things which Thompson can definitely do:

1. Integrating the capabilities of PayPal with Yahoo, and may even come up with Yahoo Wallet!

2. Integrating all the e-commerce searches with PayPal and coming up with new offerings which may result in a new trend of “discounted search prizes”

3. Yahoo already has a massive improvement over the email, calendar and its news read functionalities, which seems to be going along well. With Thompson coming in, this open various avenues like above and moving in to unknowns!

We would love to see the how Yahoo grown under his leadership, however what about Carol Bartz (Yahoo’sEx-CEO) , well she has also received a job offer… from Manka Bros.

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