Previously Mr. Thompson worked as the president of PayPal, a subsidiary of eBay (Fortune 500). The new CEO will take charge on January 9. His appointment comes after the dismissal of Carol Batz, the former CEO. Last September, Batz was fired unceremoniously through phone by Yahoo’s board of directors.

The company was without a chief for four months, without a suitable head to be at helm, the share holders voiced out, to sell the company. In spite of their call, Yahoo has finally managed to find its head in Mr. Scott Thompson.
Yahoo’s (YHOO, Fortune 500) shared got closed to 3.1%.

Thompson in his statement, prepared, said that Yahoo is “an industry icon “with an affluent history. In the recent years yahoo struggled a lot. Two years ago, the company relinquished the search, an area in which it was a front runner. It was also losing its momentum and was finding hard to stay in competition with the new contestant to the market like Face book and Google (GOOG, Fortune 500).

Subsequent to the announcement, Thompson was pounded on a conference call by analysts, journalists on sensitive points; the CEO designate said he requires some time to provide sturdy answers.

On the call, Mr. Thompson said it is very early for him to give any up to date opinion, he needs to get a brief and clear picture on what’s prevailing there (Yahoo) and what to happen next .He said he has to learn a lot of things and it is too early y to say on anything .However he is confident to discover new innovative strategies, to stay and strongly contend.