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Yahoo Names New CEO: Ex-PayPal President Thompson

STEVE INSKEEP, HOST:

NPR's business news with Yahoo's CEO search.

(SOUNDBITE OF MUSIC)

INSKEEP: Yahoo has been looking for a new CEO ever since the board fired Carol Bartz last September. Today, the Internet search and advertising company announced it's found one - Scott Thompson. He was most recently president of the online payment giant PayPal, which is now part of eBay. He's going to take over a company that's been floundering. Revenues need a boost and more importantly maybe, Thompson has to come up with a way for Yahoo to stay relevant and competitive with the online rivals like Google and Facebook out there. Transcript provided by NPR, Copyright NPR.