Why Is Yahoo Highly Optimistic About Its New CEO Scott Thompson ?

Must Read

Net Worth Of Jeff Bezos Is More Than Combined Net Worth of India’s Top 10 Richest People!

Jeff Bezos and the phrase 'World's Richest Person' has become synonym to each other. But after the...

Search Engine Optimization In Digital Era: Look Beyond Traffic

Search engine optimization, aka SEO, plays a vital role in today's online world, especially if it's about...

After Banning Apps, India To Clamp Down On Startup Investments From China

The recent border conflict between India and China has led to the Indian Government to actively take...

At last the search for Yahoo Inc. Chief Executive Officer comes to an end. Company has assigned Scott Thompson as the New CEO who will take over the reign from the interim CEO Tim Morse on January 9th, 2012. Company was in search of New CEO after it fired Carol Bartz from CEO post in September last year.

Currently, Yahoo is going through rough patches and is in need of a sensible and futuristic CEO who can restructure the organization and led it to profit path. Taking in view of all those perspective, company has pouched Scott Thompson – President of PayPal – who has a very influential track record in shaping the business of PayPal. Under his flagship PayPal achieved new heights and its revenue jumped from $1.8 billion to $4+ billion in 2011.

“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!”. “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,” as said by Roy Bostock, Chairman of the Yahoo! Board.

Interestingly, Scott is excited to work in Yahoo which is going through bad phase since last three-years. In such duration company’s market value has gone down from $48 billion to $20 billion and its share price is still unable to cross the landmark of $20.

Advertisements

 

Taking command of the company in such condition is really challenging for Scott and a lot of expectation should be there considering his early track record. But, whether he would be able to bring back glory of Yahoo is the main question.

Personally, I think step, taken by Yahoo, is significant as Scott has already showed his strength by shaping PayPal which is an online payment processing millions of online transaction successfully every month. So, it should be quite easy for him to restructure Yahoo. Also, Yahoo’s plan to sell its Asian assets will pile up the money which would help Scott to take some new initiatives.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Will The Ban On TikTok Be Revoked?

The ban on TikTok is the talk of the town. All hell broke loose for Tiktok when...

Global 5G Chipset Market: $22.41 Billion By 2026, Driven by 5G Smartphones

As the world has started shifting from 4G to 5G era, the global 5G chipset market has started attracting the eyeballs of...

Launch Of JioMeet Will Make Zoom To Be The 60th Chinese App To Get Banned In India?

Today as soon as the launch of JioMeet was formally announced by Mukesh Ambani, the frontman of Reliance Industries, people quickly found...

Intel Invest in Jio Platforms: A Chance For Redemption In The Smartphone Market?

If you thought Mukesh Ambani was finally going to stop the stake selling spree in Jio Platforms after RIL was recently announced...

With The Launch of JioMeet Reliance Sets Its Eyes On Video Conferencing Market!

The race to dominate the video conferencing market has just become more interesting. As we are going through the...

Facebook To Shutdown Lasso, The TikTok Competitor: A Well Calculated Move?

By now almost everyone is aware of how Facebook Inc. (NASDAQ:FB) always attempts to copy every other popular app that tries to...

In-Depth: Dprime

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

Fantastic 4: Four Day Work Week A Flashpoint Of Innovation?

It has been an idea that has been mooted by many, perhaps also somewhat sceptically. From being a dark horse to becoming...

TikTok Is Facing The Wrath Of People Who Love It The Most

Ever since the popular social media app TikTok entered India, it has been growing very aggressively in terms of users. Within a...

More Articles Like This