Yahoo has announced they have poached PayPal president Scott Thompson, naming him as their new CEO.
The news comes nearly four months after the high-profile dismissal of former CEO Carol Bartz, who in turn took over the position after a failed merger with Microsoft.
According to Reuters, the news came as a shock to PayPal’s parent company, eBay.
Yahoo cites Thompson’s “record of deep industry experience” at PayPal, Visa subsidiary Inovant, and Coopers and Lybrand as the reason for their decision.
ABOUT THE AUTHOR
Andrew Sadauskas is a former journalist at SmartCompany and a former editor of TechCompany.
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