Scott Thompson has been the president of PayPal for seven years. After his departure, the position has been temporary filled by John Donahoe, currently eBay’s CEO.
According to Yahoo News, Scott Thompson fills this new position in a period when Yahoo has been at the risk of being sold, privatised or broken up.
Moreover, according to media outlet CNET, Jack Ma, the CEO of the Chinese e-commerce group Alibaba, has revealed his intention to acquire Yahoo. Several years ago, Yahoo bought a 40 percent stake in Alibaba and Jack Ma has tried a couple of times to buy them back.
In August 2011, Yahoo shareholders have filed a complaint against the company over Chinese e-commerce group Alibaba restructuring of online payment unit Alipay.
The investors have claimed that Yahoo failed to inform them before 10 May 2011 that their USD 1 billion investment in Alibaba was affected by the transfer of Alipay, to a private company controlled by Alibaba Chairman Jack Ma. The lawsuit was filed on behalf of the Twin City Pipe Trades Service Association.
With Thompson as president, PayPal saw its annual revenue jump from USD 1.8 billion to over USD 4 billion.
