Skip to content

Yahoo names ex-PayPal boss Thompson new CEO

NEW YORK — Yahoo on Wednesday named PayPal’s Scott Thompson its new chief executive, saying he would recharge growth at the Internet giant that has been losing the battle over online ads.

Thompson said he aimed to boost Yahoo reader traffic to attract more advertisers, arguing that the company’s assets were underappreciated by the market.

But, under the gun from dissatisfied shareholders, the company also left the door open to selling off pieces, after months of fielding approaches from Asian partners, private equity investors and giants like Microsoft.

Thompson was named four months after the company sacked his predecessor Carol Bartz over her unsuccessful efforts to turn the company around.

Yahoo said Thompson would focus on the company’s core business and work with the board to “identify the best approaches for the company and its shareholders.”

“His deep understanding of online businesses combined with his team-building and operational capabilities will restore the energy, focus, and momentum necessary to grow the core business and deliver increased value for our shareholders,” chairman Roy Bostock said in a statement.

Thompson was until Wednesday’s announcement head of the large online payments firm PayPal, a key unit of eBay. There he is credited with expanding the business beyond eBay’s buyers and sellers to serving other online retailers and wholesalers.

He told analysts Wednesday that Yahoo needs to build visitor traffic to its websites and hold onto it.

“To me Yahoo’s core business is providing a great experience for our users. Everything comes from that,” he said.

“With a solid base of advertisers, it presents both a huge opportunity and a great challenge,” he said, adding that “Speed is critical of course.”

But he was reticent to say just how he would do that. Yahoo has strong content and popular websites, but has still been losing business to search giant Google, social networking king Facebook and specialized websites.

Yahoo’s shares have sagged below the $20 line since the company rebuffed a generous takeover overture, of more than $30 a share, from Microsoft in early 2008.

Bartz who was fired in early September after less than three years in the job, blamed for failing to build earnings and investor returns and recover market share.

But she and some major shareholders blamed a lack of leadership and direction from the board of directors, which includes Yahoo co-founder and former chief executive Jerry Yang.

Bartz herself blasted her overseers as “the worst board in the country” after being pushed out the door.

Yahoo has since then embarked on a “strategic review” and rumors have swirled about possible takeover offers from Microsoft, various private equity firms, as well as China’s Alibaba, partly owned by Yahoo and one of its most valuable assets.

The company has also mulled selling off its hugely valuable stakes in Alibaba and Yahoo Japan.

Bostock confirmed that selling parts of the company could be part of Thompson’s job.

“Yahoo is considering a wide range of opportunities for the company’s business, as well as specific investments or dispositions of assets,” he said.

Trip Chowdhry of Global Equities Research said Thompson’s PayPal background could help take Yahoo in the still-open market of payments made with mobile phones, after having lost battles in the search, advertising and social networking businesses.

“Whatever Yahoo is doing today is getting to be irrelevant by every day,” Chowdhry said.

“Under the new CEO, Yahoo should be focused on defining the 4th Generation of Internet wave — which is mobile payments.”

But he also called for the complete overhaul of the Yahoo board including Yang.

Yahoo shares fell 2.4 percent during trade Wednesday, while eBay’s dropped 3.7 percent.

EBay announced that its chief executive John Donahoe will assume Scott’s responsibilities until a new PayPal chief can be recruited.

Related Posts with Thumbnails

Posted in Internet.

Tagged with , , , , .

0 Responses

Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.

Some HTML is OK

or, reply to this post via trackback.

Support #altnews & keep Dark Politricks alive

Remember I told you over 5 years ago that they would be trying to shut down sites and YouTube channels that are not promoting the "Official" view. Well it's all happening now big time. Peoples Channels get no money from YouTube any more and Google is being fishy with their AdSense giving money for some clicks but not others. The time is here, it's not "Obama's Internet Cut Off Switch" it's "Trumps Sell Everyones Internet Dirty Laundry Garage Sale". This site must be on some list at GCHQ/NSA as my AdSense revenue which I rely on has gone down by a third. Either people are not helping out by visiting sponsors sanymore or I am being blackballed like many YouTube sites.

It's not just Google/YouTube defunding altenative chanels (mine was shut), but Facebook is also removing content, shutting pages, profiles and groups and removing funds from #altnews that way as well. I was recently kicked off FB and had a page "unpublished" with no reason given. If you don't know already all Facebooks Private Messages and Secret Groups are still analysed and checked for words related to drugs, sex, war etc against their own TOS. Personally I know there are undercover Irish police moving from group to group cloning peoples accounts and getting people booted. Worse than that I know some people in prison now for the content they had on their "secret private group". Use Telegrams secret chat mode to chat on, or if you prefer Wickr. If you really need to, buy a dumb phone with nothing for the NSA/GCHQ to hack into. Ensure it has no GPS tracking on it and that the battery can be removed. These are usually built for old people to get used to technology storing only a set of numbers to call. However they have no games, applications to install or other ways people can exploit the computer tracking device you carry round with you most of the day - your smart phone. If you are paranoid ensure that you can remove the battery when travelling around and do so to prevent GPS tracking or phone mast triangulation. Even with your phone in Flight mode or turned off, it can be turned on remotely and any features like front or back cameras, microphones and keylogging software can be installed to trace you.

So if your not supporting this site already which brings you news from the Left to the Right (really the same war mongering rubbish) then I could REALLY do with some..

Even if it's just £5 or tick the monthly subscription box and throw a few pound my way each month, it will be much appreciated. Read on to find out why.


Any support to keep this site would be appreciated. You could set up a monthly subscription for £2 like some people do or you could pay a one off donation as a gift.
I am not asking you to pay me for other people's articles, this is a clearing house as well as place to put my own views out into the world. I am asking for help to write more articles like my recent false flag gas attack to get WWIII started in Syria, and Trump away from Putin. Hopefully a few missiles won't mean a WikiLeaks release of that infamous video Trump apparently made in a Russian bedroom with Prostitutes. Also please note that this article was written just an hour after the papers came out, and I always come back and update them.

If you want to read JUST my own articles then use the top menu I have written hundreds of articles for this site and I host numerous amounts of material that has seen me the victim of hacks, DOS plus I have been kicked off multiple hosting companies, free blogging sites, and I have even had threats to cease and desist from the US armed forces. Therefore I have to pay for my own server which is NOT cheap. The more people who read these article on this site the more it costs me so some support would be much appreciated.

I have backups of removed reports shown, then taken down after pressure, that show collusion between nations and the media. I have the full redacted 28/29 pages from the 9.11 commission on the site which seems to have been forgotten about as we help Saudi Arabia bomb Yemeni kids hiding in the rubble with white phosphorus, an illegal weaapon. One that the Israeli's even used when they bombed the UN compound in Gaza during Operation Cast Lead. We complain about Syrian troops (US Controlled ISIS) using chemical weapons to kill "beautiful babies". I suppose all those babies we kill in Iraq, Yemen, Somalia and Syria are just not beautiful enough for Trumps beautiful baby ratio. Plus we kill about 100 times as many as ISIS or the Syrian army have managed by a factor of about 1000 to 1.

I also have a backup of the FOX News series that looked into Israeli connections to 9.11. Obviously FOX removed that as soon as AIPAC, ADL and the rest of the Hasbra brigade protested.

I also have a copy of the the original Liberal Democrats Freedom Bill which was quickly and quietly removed from their site once they enacted and replaced with some watered down rubbish instead once they got into power. No change to police tactics, protesting or our unfair extradition treaty with the USA but we did get a stop to being clamped on private land instead of the mny great ideas in the original.

So ANY support to keep this site running would be much appreciated! I don't have much money after leaving my job and it is a choice between shutting the server or selling the domain or paying a lot of money just so I can show this material.

Material like the FSB Bombings that put Putin in power or the Google no 1 spot when you search for protecting yourself from UK Police with "how to give a no comment interview". If you see any adverts that interest you then please visit them as it helps me without you even needing to give me any money. A few clicks per visit is all it takes to help keep the servers running and tag any tweets with alternative news from the mainstream with the #altnews hashtag I created to keep it alive!

However if you don't want to use the very obvious and cost free ways (to you) to help the site and keep me writing for it then please consider making a small donation. Especially if you have a few quid sitting in your PayPal account doing nothing useful. Why not do a monthly subscription for less money instead. Will you really notice £5 a month?