Thursday, January 05, 2012
Harish Bhatt
Yahoo Inc. named a new chief executive who is tasked with turning around its core online-advertising business, but some of the biggest questions surrounding the struggling Internet company's future remain unanswered.
Yahoo hired CEO Scott Thompson, the 54-year-old president of eBay Inc.'s PayPal electronic-payments unit, signaling Wednesday that it is determined to attract technology executives and computer programmers to revive the onetime Web powerhouse, whose star has faded amid increased competition for ad dollars from rivals Google Inc. and Facebook Inc.
The move also indicates that Yahoo's board is unlikely to sell the company. Chairman Roy Bostock said Wednesday that Yahoo would almost certainly remain publicly traded.
