Yahoo hires PayPal president

Yahoo hires PayPal president

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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