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Yahoo hires PayPal president

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Wednesday, January 04, 2012

Yahoo hired Scott Thompson, president of PayPal, as its fourth CEO in less than five years.

Yahoo, which announced its choice Wednesday, has been without a permanent CEO since early September. It fired Carol Bartz after losing patience with her attempts to turn around the company during her 2 ½ years on the job. Tim Morse, Yahoo's chief financial officer, has been interim CEO since Bartz's ouster.
It will be a big task. Yahoo has been losing ground in the fast-growing Internet advertising market to Google Inc. and Facebook Inc. for years. Mainly for this reason, its stock price has not topped $20 for the past three years.

Read more at OregonLive.com.

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