Washington, Jan 5 : Yahoo has named Scott Thompson, former president of online payment service PayPal, as its new chief executive officer.Wednesday's announcement ended the internet company's four-month search for the right person to fill the position, Xinhua reported.Thompson's appointment will be effective Jan 9, when he will also formally join the company's board of directors, Yahoo said in a press release.

Yahoo fired former CEO Carol Bartz Sep 6, 2011. Bartz had taken over as CEO from Yahoo co-founder Jerry Young in January 2009, when the company was struggling to stay competitive and profitable in a market dominated by Google.(IANS)