Ousted Yahoo CEO gets a new job close to his old Paypal success story
Scott Thompson,54, who tumbled out of his CEO job at Yahoo after doubts were raised about his resumé, has landed a new job as CEO of ShopRunner, an online service that provides two-day shipping from a variety of Internet retailers.
Scott Thompson: bullish
His appointment came two months after his four-month spell at Yahoo "came to a mortifying end," as the Washington Post put it.
He was said to have listed a bachelor’s degree in computer science he never received. But that didn't worry ShopRunner.
In his new job, Thompson will be running a privately held company with connections to one of his former employers, eBay . Thompson led eBay’s online payment service, PayPal, before going to Yahoo at the beginning of the year.
As President of PayPal , Thompson turned it into into a massive force, growing its user base from 50 million to 104 million active users across 190 countries .
Michael Golden, who had been ShopRunner’s CEO and is staying on as president, hailed Thompson as “the perfect long-term CEO.”
The Post said the new job appeared to be a major step down for Thompson. As CEO of Yahoo, he was being paid a $1 million salary with an annual bonus of up to $2 million. Yahoo last week hired longtime Google executive Marissa Mayer as its fifth CEO in the past five years.
Thompson's new salary was not stated.
ShopRunner offers two-day shipping for online purchases made by its subscribers, who pay a $79 annual fee.
Thompson was bullish about the new job..“Joining ShopRunner is a tremendous opportunity to build on the strong foundation that the company has already established," he said.
“While PayPal and ShopRunner are fundamentally different businesses, there are similarities in each of their success. .”