In September of 2011, Yahoo! fired then CEO Carol Bartz because the board grew impatient of waiting for things to turn around. Since Bartz’s departure from the company, no one has been officially named as CEO, and what’s worse, no one seems to want to take the position. The board and interim CEO Tim Morse had been running the show for quite some time, but things may have finally changed as word of a new CEO surfaces this week.
Update: It’s been confirmed that Scott Thompson, former President at PayPal, has been named the new CEO of Yahoo.
But since Bartz’s sacking, Yahoo’s been busy making a comeback in the advertising market. Yahoo entered an ad deal with Microsoft and AOL that entails the three companies to the sell each other’s “Class 2 display” inventory or graphic ads the companies can’t sell on their own, and would normally hand over to ad networks.
It was then followed by the announcement that they are purchasing Interclick, the maker of a leading data valuation platform developed to work with large data volume through a manifold of providers and marketplaces, for $270 million which will be completed this year. Their focus on ads did not end with the Interclick acquisition, as they launched Livestand, LivingAds, and IntoNow apps. Even Microsoft, who failed to acquire the company back in 2008, is again showing interest for the company as they bid $16.60 per share for a minority stake in Yahoo.
As Yahoo slowly rise from the ashes, it still lacks one important key for things to turnaround successfully: a CEO. And now the company might be ready to name their next chief.
According to AllThingsD, some sources stated that Yahoo might be announcing their new CEO as early as today. Yahoo hired Heidrick & Struggles to look for a CEO with expertise in advertising, technology platforms and more. And Yahoo might just have found the perfect person for the position in PayPal President Scott Thompson, who runs eBay’s massive online payments unit.
Thompson served as PayPal’s senior vice president and chief technology officer, where he oversaw information technology, product development and architecture for the company before he became president. And before he joined PayPal, Thompson worked as executive vice president at Inovant, a subsidiary of Visa formed to oversee global technology for the organization, where he was responsible for all development, support and maintenance of Visa’s global payment system. his work history also stated that he was chief information officer of Barclays Global Investors, where he implemented a new strategic technology platform and global infrastructure, and worked with Coopers and Lybrand, delivering information technology solutions to leading financial services clients such as Wells Fargo.