Yahoo Taps PayPal Executive As New CEO

Yahoo has appointed Scott Thompson as its new CEO, replacing Carol Bartz who was fired back in September of 2011, as a temporary situation the company placed Tim Morse, Yahoo’s chief Financial Officer in the role.  Previously Scott was the President of Ebay’s PayPal division.

Yahoo has struggled over the last few years with an identity crisis which has had an impact on all facets of the company and has no doubt left a trail of confusion in Canada.  Over the last six months there has been quite a bit of speculation and rumours as to the future of Yahoo including the possible sale to two private equity firms, Silver Lake and TPG Capital, which did not receive applause from shareholder to the the low bidding price.  Most recently rumours  surfaced that  Yahoo was close to selling most of its holdings in China and Japan in a proposed deal valued at about $17-billion.