After a four-month search, teetering tech company Yahoo announced their new CEO today, Scott Thompson, the president of eBay's PayPal division. Thompson follows feisty and f-word friendly Carol Bartz, who was released from her duties in September. According to Wired, Thompson "has his work cut out for him."
Yahoo’s fortunes seemed to be merely waning until they fell off a cliff, when then CEO and co-founder Jerry Yang led a charge to reject an unsolicited takeover bid from Microsoft three years ago. The $45 billion offer worked out to $31 a share, a hefty premium at the time and twice what Yahoo is trading for now.
Thompson is "known for his cordial personality and thick Boston accent," notes the Wall Street Journal. And though he has yet to declare any drastic changes or sparkling new ideas for the Sunnyvale-based company, Thompson will take control on January 9.
Yahoo shares dipped slightly after Wednesday's big announcement.