Breaking News Alert
The New York Times
Wednesday, January 4, 2012 -- 9:32 AM EST
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Yahoo Names PayPal President as C.E.O.
Yahoo named the president of PayPal, Scott Thompson, as its chief executive to replace Carol Bartz, who was dismissed in September, the company said Wednesday.
Mr. Thompson has been running PayPal, the online payments unit of eBay, since early 2008, and was previously its chief technology officer. PayPal processed $29 billion in payments in the third quarter of 2011.
The former Web powerhouse is undergoing a strategic review as it struggles to compete with newer heavyweights Google and Facebook. It has been run by Tim Morse since Ms. Bartz's departure; the company said Mr. Morse would return to his former role as chief financial officer.
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http://www.nytimes.com/2012/01/05/technology/paypal-executive-named-ceo-of-yahoo.html?emc=na
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