Feeds

Yahoo! bags! CEO! from! PayPal!

Ex-prez drafted in to steer web biz to glory

Security for virtualized datacentres

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. ®

Security for virtualized datacentres

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
Alibaba swings a large one with STONKING IPO legal bills
Chinese e-commerce beast searches for $21bn from investors
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
EMC has nothing to say on VMware sale plan
Rumour and counter-rumour swirl around Wall Street
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.