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AP Photo/San Francisco Chronicle, Michael Macor/PA Images

PayPal president named new Yahoo CEO

Yahoo has been without a permanent CEO for three months.

YAHOO INC has named Scott Thompson, president of eBay Inc’s PayPal division, as its new CEO.

The struggling Internet company has been without a permanent CEO since early September 2011.

It fired Carol Bartz after losing patience with her attempts to turn around the company during her two-and-a-half years on the job. Tim Morse, Yahoo’s chief financial officer, has been interim CEO since Bartz’s ouster.

California-based Yahoo says Thompson’s new job starts on 9 January. Morse will return to his CFO job.

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.

Yahoo CEO emails colleagues: ‘I’ve just been fired over the phone’ >

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Associated Foreign Press