Yahoo Names PayPal Exec Scott Thompson New CEO
Yahoo Names PayPal Exec Scott Thompson New CEO

UPDATED: Yahoo Inc. has named Scott Thompson, the president of eBay Inc.'s PayPal division, as its new CEO, the company announced Wednesday morning.

The struggling Internet company has been without a permanent CEO since early September, when it fired Carol Bartz after losing patience with her attempts to turn around the company during her 2½ years on the job. Tim Morse, Yahoo's chief financial officer, has been interim CEO since Bartz's ouster.

The Wall Street Journal said late Tuesday that Thompson could be named to head the Sunnyvale, Calif.-based company.

A representative for Yahoo could not be immediately reached for comment on Wednesday.

Thompson has served as president of PayPal, eBay's online payment service, since January 2008, according to his bio on eBay's web site. He previously served as PayPal's senior vice president and chief technology officer.