Yahoo Hires New CEO, Looks To Make A Comeback

Over the last several years, Yahoo has had a bit of a rough patch. The problem according to many industry experts was the lack of leadership and vision. While that may be the case, Yahoo announced the hiring of Scott Thompson today, the President of Paypal, one of the World’s largest online payment processors.

The goal is to bring the struggling company back to the forefront and start innovating once again.

What Scott Thompson had to say:

“What happens in the next five or the next ten years is hard to imagine. I expect Yahoo will be part of that,” Thompson said. “We’ll be back to innovation, back to disruption. You’ll see a great series of products.”

While all this talk of innovation and disruption is great, let’s not forget the fact that there’s a long way to go to get back to the “glory days” so to speak, and make Yahoo a better contender in the search marketplace.

“When Thompson takes over as Yahoo CEO and a member of its board on Monday, he’ll have a colossal challenge on his hands. Yahoo remains a fixture on the Internet, with 700 million unique users visiting each month, but it’s ceded initiative–and new revenue–to newer rivals such as Google and Facebook. And with Yahoo’s parade of CEOs in recent years, the company has to be suffering from reorg fatigue.”

It is a big challenge, but hopefully this is a step into the right direction. Change needs to happen and it’s now or never.