Yahoo's new CEO
Yahoo is still a global giant but it has gone through a lot in the last few years. Yahoo has lost considerable amount of business to other companies in the segment like Google and Microsoft (Bing). Yahoo in the past has been dominant player in the online world through its various offerings like social networking through Yahoo Messenger and Answers and search engines industry with its search engine. Yahoo email is still widely used across the globe.
But picture is quite gloomy now. Yahoo has stopped many of its services which were extremely popular in the past like Yahoo Explorer. Yahoo has failed to come up with new things in last few years which can grab customer’s attention and interest. As a result, vast number of internet users has shifted to other players in the segment like Google. Broadly, Yahoo has failed to adapt to the changes, it couldn’t keep pace with the changing demands and needs of the internet users.
Numbers of internet users have grown multiple folds in the last few years and they have changed with the time also, internet user community is far more dynamic today than what it was in 2000. So it has become extremely difficult for the service provider to keep pace with them and companies which have failed in doing that have been penalized by the market.
Yahoo which has broadly failed to keep pace with it desperately needed a leadership change. Yahoo needs someone who can understand internet user behaviors and interpret them in order to develop services for them. And probably, company’s management has learned its lesson and taken a step to rectify it. Yahoo had dismissed its last CEO few months back and now they have appointed its new CEO. Scott Thompson is going to be the CEO of Yahoo. Scott Thompson has worked with Paypal and has got an established track record. He has helped in Paypal in increasing its customer base and revenues.
Scott Thompson has got a good experience in terms of understanding internet users. It will help him in reading the user behavior. So his selection indicates that company’s senior management understands the problem and is trying to fix the bug. Only time would be able to decode the report card of Yahoo in next few years but wishing best of luck to Scott Thompson and hope to get to a better Yahooooooooo.
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