Feeds

Yahoo! bags! CEO! from! PayPal!

Ex-prez drafted in to steer web biz to glory

Bridging the IT gap between rising business demands and ageing tools

As rumoured all over the web this morning, PayPal president Scott Thompson has been snapped up by Yahoo! for the role of chief executive. Yahoo!'s acting CEO Tim Morse has returned to his job as chief financial officer.

Thompson had been with eBay subsidiary PayPal since 2005 and served as president from 2008.

"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!," Roy Bostock, Yahoo! board chairman, said in a canned statement.

The beleaguered web firm has been without a chief since it fired Carol Bartz back in September in an acrimonious split purportedly done over the phone.

From then on, Yahoo! has been the centre of a whole host of buyout, merger and stake-buying rumours, all stemming from its continued inability to reverse its decline in fortunes.

The latest of these suggested that the firm could flog most of its Alibaba stake and all of its Yahoo! Japan arm back to its partners in the ventures (Alibaba and Softbank respectively), leaving it with a bit of cash to plough into its US operation - the source of most of its woes.

However, private equity buyouts, a renewed courtship with Microsoft or a complete buyout of the firm by Alibaba have also been churned out by the rumour mill.

Yahoo!'s name for this host of possible sell-off opportunities and anything else it might do to revive itself is its "strategic review", which it said Thompson would now be helping out with.

"Scott's primary focus will be on the core business, and as CEO and director, he will work closely with the board as we continue the strategic review process to identify the best approaches for the company and its shareholders," Bostock said.

"As part of this process, Yahoo! is considering a wide range of opportunities for the company's business, as well as specific investments or dispositions of assets," he added. ®

Seven Steps to Software Security

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.