Internet giant Yahoo Inc has appointed Scott Thompson, who runs eBay’s online payment unit PayPal, as new Chief Executive Officer.
Thompson has also been named on the company’s Board of Directors. The appointment would be effective from January 9, 2012.
The company said Scott’s primary focus would be on the core business. He would work closely with the Board as Yahoo continues the strategic review process to identify the best approaches for the company and its shareholders.
Thompson became president of PayPal in early 2008, after serving as its CTO (Chief Technology Officer) in charge of IT, product development and architecture.
Before eBay, he worked at Inovant, a subsidiary of Visa formed to oversee global technology for the organisation. He was also CIO of Barclays Global Investors and has worked at Coopers and Lybrand on information technology.