Yahoo appoints Scott Thompson as CEO

STRUGGLING WEB PORTAL Yahoo has appointed Scott Thompson as CEO effective 9 January.

Thompson was president of the Ebay subsidiary and online payments service Paypal, which grew from 50 million to over 104 million users and from $1.8bn to more than $4bn in revenue under his leadership.

At Yahoo he will replace Carol Bartz, who was fired as CEO several months ago, and take over from CFO Tim Morse, who served as Yahoo's interim CEO.

"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!," said Roy Bostock, Yahoo's chairman.

Yahoo also appointed Thompson to its board of directors. µ