Ebay share price goes down with Yahoo name its new CEO as Scott Thompson

Posted on Jan 6 2012 - 1:38pm by Editorial Staff

With naming Scott Thompson, as the new CEO of the Yahoo Inc, the shares of eBay Inc fell on Wednesday. Thompson has to join Yahoo on January 09, 2012, replacing the current Carol Bartz. Thompson has been president of PayPal since 2008 first half, after serving the term as Chief Technical Officer (CTO) in charge of information technology, product development and architecture.

In a memo posted to eBay’s blog, CEO John Donahoe said he will fill in as PayPal’s president temporarily. “And, while I’m sure Scott’s decision is a shock to many of you, as it was to me, there is one thing I am certain of: PayPal has an enormous opportunity in front of it, and we will not slow down. We will not miss a beat,” Donahoe added.

Finding a good replacement for Thompson by eBay will be an important part for the company now. Searching and defining the credibility of the matter in front of the investor is what eBay have to handle strongly as Thompson was well-known by investors and his all of sudden departure raised questions in the ebay’s model of business.

Ebay’s Market Share View: EBay’s shares fell $1.29, or 4.1 percent, to $30.05 by late afternoon.

(Image Source: Scott Thompson, Featured Image)

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Editorial Staff

Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.