Yahoo’s new CEO will be PayPal’s current President, Scott Thompson. Thompson was named CEO of Yahoo last week replacing the vacancy left by the firing of former CEO Carol Bartz who was let go in September of last year, Thompson will be relieving interim CEO Tim Morse who will be returning to his position as CFO.
Thompson’s introduction as CEO comes on the tails of his success at PayPal and Yahoo’s hope is that he can repeat his successes with his new company. During Thompson’s tenure at PayPal his leadership saw the company double both its active users and revenue.
Yahoo is facing uncertain times in 2012 as there are reports of private equity firms attempting to purchase minority stake along with Microsoft’s reported signing of a confidentiality agreement, which could be the beginnings of a second attempted buyout. Currently, Yahoo is the second most popular search engine behind Google, but their lead on the second spot over Microsoft’s Bing is minimal. Yahoo has experienced significant traffic loss to Google and Facebook along with the report in October of last year that the net earnings were down 26% from the prior year.
Will Scott Thompson be successful for Yahoo? Will Yahoo ever reclaim market share from Google or have they reached the end of their run? Tweet us @jasegroup and let us know what you think. As always, please feel free to share this with friends.
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