Scott Thompson joined Yahoo! as Chief Executive Officer in January 2012, effective January 9, 2012. Thompson has also been appointed to the Company's Board of Directors, effective January 9, 2012. Photo courtesy Yahoo! / flickr

Sunnyvale, Calif., USA - January 04, 2012

Yahoo! Inc. (NASDAQ: YHOO), the premier digital media company, today announced the appointment of Scott Thompson as Chief Executive Officer, effective January 9, 2012 , at which time Tim Morse will resume his role as Chief Financial Officer.

Thompson has also been appointed to the Company's Board of Directors, effective January 9, 2012.

Yahoos welcome CEO Scott Thompson at his first All Hands event Yahoos across the company pack our Sunnyvale headquarters to hear Scott's first company All Hands since being named CEO. Photo courtesy Yahoo! / flickr

Thompson served most recently as President of PayPal, a division of eBay, where he continued his established track record of growing businesses by driving customer engagement built on strong technology platforms.

Tim Morse opens CEO Scott Thompson's first All Hands Yahoo! CFO Tim Morse addresses Yahoos at CEO Scott Thompson's first Yahoo! All Hands. Photo courtesy Yahoo! / flickr

Under his leadership, PayPal solidified its lead as the global online payment service, expanding its user base from 50 million to more than 104 million active users in 190 countries worldwide, increasing the number of merchant partners to more than 8 million globally, and growing revenues from $1.8 billion to $4+ billion in 2011.

Chairman Roy Bostock welcomes Scott Thompson Yahoo! Chairman Roy Bostock introduces Scott Thompson to Yahoos at Scott's first Yahoo! All Hands. Photo courtesy Yahoo! / flickr

"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!," said Roy Bostock, Chairman of the Yahoo! Board.
"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. The search committee and the entire Board concluded that he is the right leader to return the core business to a path of robust growth and industry-leading innovation."

Scott Thompson exchanges yodels Scott greets Yahoos after his first Yahoo! All Hands. Photo courtesy Yahoo! / flickr

"Yahoo! is an industry icon and I am very excited about the prospect of working with one of the great teams in the online world to deliver Yahoo!'s next era of success," Mr. Thompson said.
"Yahoo! has a rich history and a solid foundation to build on, and its continued user engagement is one of the many reasons for my enthusiasm. With the ultimate goal of delivering the value our shareholders expect, my immediate focus will be on getting to know the entire team and hearing more from all Yahoo!s, working closely with the engineers and product teams, and diving deeply into our products and services to learn more about what our more than 700 million users find most engaging and useful. I will also be working directly with our region leaders and sales teams globally to get a clearer understanding of the needs of our advertisers and publishers. Clearly, speed is important but we will attack both the opportunity ahead and the competitive challenges with an appropriate balance of urgency and thoughtfulness. I cannot wait to get started."

CEO Scott Thompson greets Yahoos at Sunnyvale HQ Scott shares with Yahoos at his first Yahoo! All Hands. Yahoo-ee-oo! Photo courtesy Yahoo! / flickr

"Scott's primary focus will be on the core business, and as CEO and director, he will work closely with the Board as we continue the strategic review process to identify the best approaches for the Company and its shareholders. As part of this process, Yahoo! is considering a wide range of opportunities for the Company's business, as well as specific investments or dispositions of assets," added Bostock.

CEO Scott Thompson greets Yahoos at Sunnyvale HQ Scott struts his yodel during his first Yahoo! All Hands. Yahoo-ee-oo! Photo courtesy Yahoo! / flickr

"We are all grateful to Tim Morse for leading the company with a steady hand during the last several months. His deep understanding of the Company and his positive approach kept the company on course and we will continue to benefit from his exceptional capabilities as he returns to his Chief Financial Officer role," Bostock concluded.


Scott Thompson Biographical Information

Scott Thompson has a record of deep industry experience, having most recently served as President of PayPal with overall responsibility for establishing that company as the leading global online payment service.

CEO Scott Thompson gives a warm Yahoo! hug Scott gives a Yahoo! hug during his company All Hands. Photo courtesy Yahoo! / flickr

He previously served as PayPal's Senior Vice President and Chief Technology Officer.

Prior to PayPal, Mr. Thompson was Executive Vice President of technology solutions at Inovant, a subsidiary of Visa formed to oversee global technology for the organization.

Thompson was also Chief Information Officer of Barclays Global Investors, where he implemented a new strategic technology platform and global infrastructure.

Welcome to our new CEO, Scott Thompson! On the day his new position is announced, our new CEO Scott Thompson works through lunch with Jerry Yang and Tim Morse at our very own URLs café! Photo courtesy Yahoo! / flickr

In addition, he worked with Coopers and Lybrand, delivering information technology solutions to leading financial services clients.

Scott received a bachelor's in accounting and computer science from Stonehill College.

He serves on the board of directors of F5 Networks Inc. and Zuora Inc.


About Yahoo!


Yahoo! is the premier digital media company, creating deeply personal digital experiences that keep more than half a billion people connected to what matters most to them, across devices and around the globe.

And Yahoo!'s unique combination of Science + Art + Scale connects advertisers to the consumers who build their businesses.

Yahoo! is headquartered in Sunnyvale, California.

For more information, visit the pressroom (pressroom.yahoo.net) or the company's blog, Yodel Anecdotal (yodel.yahoo.com).


Media Relations:

Kekst and Company
Eric Berman (212) 521-4894
Lissa Perlman (212) 521-4830


Investor Relations:

Yahoo!
Marta Nichols (408) 349-3527


Source: Yahoo! Inc.

http://pressroom.yahoo.net/pr/ycorp/221363.aspx  



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