Yahoo named PayPal’s Scott Thompson new CEO

[left_image link=””][/left_image]Yahoo Inc. named the president of PayPal, Scott Thompson new chief executive officer (CEO). Yahoo hired CEO Scott Thompson, who is 54 years old president of eBay Inc.’s PayPal electronic-payments unit.

Thompson will focus on turning around Yahoo’s “Core Business” its media and advertising assets, and work closely with the board on a review of the company’s strategy, Chairman Roy Bostock said.

Thompson starts January 9, His appointment will not slow down the company’s strategic review, which includes the possibility of unloading valuable stakes in Asian Internet companies and selling a minority stake to private equity investors.

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

Yahoo shares were down 30 cents, or 1.8%, at $15.99 on Wednesday. Shares of eBay, meanwhile, dropped $1.16, or 3.7%, to $30.18.