The winner of 'Ernst & Young Entrepreneur' of the Year in 2011, Scott Thompson has been hired by Yahoo Inc. as its new Chief Executive Officer. Thompson comes in with a varied experience, most recently served as the President for eBay’s PayPal electronic payment units. He was earlier the Senior Vice President and the Chief Technology Officer with the organization. Before PayPal, he has worked with Inovant, a subsidiary of Visa, as Executive Vice President of Technology Solutions and was taking care of all the development and maintenance of its global payment system.Thompson has also worked as the Chief Information Officer of Barclays Global Investors, where he implemented a new strategic technology platform and global infrastructure.
It was under Thompson’s leadership that PayPal flourished as a leader in global online payment service with an expansion from 50 million users to more than 104 million active users in 190 countries worldwide. He was responsible for increasing the number of PayPal’s merchant partners to more than 8 million globally, and growing revenues from $1.8 billion to more than $4 billion in 2011. The American multinational internet corporation Yahoo has been one of the most trusted names since it was founded in 1994. However, lately with Google Inc. and Facebook being world leaders, Yahoo has been struggling to keep pace with them. Ironically, Thompson will be the company’s fourth CEO in five years.
Scott Thompson’s vision is to use innovation and disruptive concepts and get Yahoo back in business as being one of the iconic brands on the web. And with the immense knowledge and experience that he carries with him, many companies are betting Yahoo’s big return on the global scenario once again!
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