BUSINESS

Yahoo names PayPal President Thompson as its CEO

01/04/2012 09:18 EST | Updated 03/05/2012 05:12 EST
NEW YORK, N.Y. - Yahoo Inc. has named Scott Thompson, president of eBay Inc.'s PayPal division, as its new CEO.

The struggling Internet company 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 1/2 years on the job. Tim Morse, Yahoo's chief financial officer, has been interim CEO since Bartz's ouster.

Sunnyvale, California-based Yahoo says Thompson's new job starts on Jan. 9. Morse will return to his CFO job.

Thompson has served as president of PayPal, eBay's online payment service, since January 2008, according to his bio on eBay's website. He previously served as PayPal's senior vice-president and chief technology officer.