Former interim Yahoo CEO, Tim Morse, will be returning to his last position as Chief Financial Office (CFO) and the former President at PayPal, Scott Thompson, will try to bring something new to Yahoo as their new full fledged CEO. Thompson will also be a member of Yahoo’s Board of Directors on January 9th.
The success that PayPal has had can possibly be linked to its initial relationship with eBay. According to the Yahoo Board Chairman, Roy Bostock, Scott Thompson has “a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth.” Yahoo is banking that Thompson will be able to drive that same kind of success over to their company as both the CEO search committee and entire Board of Directors all agreed on Thompson as the best choice for their new CEO. Thompson has an extensive background in information technology solutions that could potentially bode well for the future of Yahoo.