In case you haven’t forgotten, Yahoo is still out there. And not the Internet company that seems to have been on a downhill slide recently may have just gained some momentum. On Wednesday, Yahoo named Scott Thompson, the current chief at PayPal, as it’s new CEO. Only minutes after the announcement, writers were weighing in their opinions about the choice of Thompson.
Some talked about his experience, saying he had more experience in technology than in marketing and media. While praising him, Ken Sena, an analyst with Evercore Partners, talked about Thompson’s limited experience.
“Thompson does not have any demonstrable content or media experience, which proved to be a challenge for the company’s previous CEO, Carol Bartz,” Sena said in an article published in The Hollywood Reporter. .
“Additionally, while Thompson can clearly handle growth-stage companies, he does not possess evident turnaround experience, which we believe is critical given the state of Yahoo’s core business.”
In an article published on Street.com, writer James Rogers says Thompson “makes sense” for Yahoo based on his track record with PayPal. PayPal had it’s first billion-dollar quarter last year and it’s partnership with eBay accounts for about half of the auction site’s revenue.
As for Thompson, he says he’s ready for the challenge and seems to have a game plan. He said on Wednesday, ”To me Yahoo’s core business is providing a great experience for our users. Everything comes from that.”
How Thompson does and what the reaction will be to him over the next few months remains to be seen. However, Thompson’s hiring did nothing for the company’s stock, which has been declining over the past few months. The stock fell 2.4 percent.
