Yahoo! Inc. (NASDAQ:YHOO) shares are down this morning, falling 2% to $15.95 per share. Volume is trading fairly heavy as 7.5 million shares have been traded with nearly 6 hours left in the live trading session. News is driving the movement of YHOO; the company announced today they have hired Scott Thompson as the company’s new CEO. Scott Thompson is the President of eBay Inc.’s PayPal Division.
Yahoo! Inc is trying turn around what has been a dismal few years. During the company’s fall from the ranks of Internet titans the company hired Carol Bertz to try and help turn the tide for Yahoo. After a two and a half year campaign she was fired after the company’s patience was beginning to wane. She was replaced by Tim Morse, Yahoo! Inc.’s Chief Financial Officer. With Mr. Morse assigned as the interim CEO the company sought a candidate with a plethora of knowledge and experience in the realm of Internet companies. Mr. Thompson will begin his new job on January 9, 2012 and he previously served as PayPal’s Senior Vice President and Chief Technology Officer.
About Yahoo! Inc.
Yahoo! Inc., together with its subsidiaries, operates as a digital media company that delivers personalized digital content and experiences through various devices worldwide. It offers online properties and services to users; and a range of marketing services to businesses.
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