Internet giant Yahoo on Wednesday named PayPal's Scott Thompson its new chief executive, saying he would recharge growth but also leaving open the possibility of selling off assets. Thompson was named four months after the company sacked his predecessor Carol Bart-z over her unsuccessful effort to turn the ailing Internet giant 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. Scott brings to Yahoo a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo, chairman Roy Bo stock said in a statement. His deep understanding of online businesses combined with his team-building and operational capabilities will restore the energy, doc-us, and momentum necessary to grow the core business and deliver increased value for our shareholders. Thompson was until Wednesday's announcement head of the large online payments firm PayPal, a key unit of eBay, for almost four years. He said in a conference call with analysts and investors Wednesday that Yahoo needs to build traffic to its websites and hold them there. 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. 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.
Saturday, January 7, 2012
0 comments
Post a Comment