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YHOO Slips On Naming eBay’s Thompson CEO; EBAY Down 4%

Shares of Yahoo! (YHOO) are off 32 cents, or 2%, at $15.96 after the company this morning said it would make Scott Thompson, currently the head of eBay’s (EBAY) PayPal division, its new chief executive officer, confirming speculation late yesterday by AllThingsD’s Kara Swisher.

Temporary CEO Tim Morse will return to his full-time role of chief financial officer.

Shares of eBay are down $1.22, or almost 4%, at $30.14.

Yahoo! chairman Roy Bostock remarked that Thompson, who is also being appointed to the board of directors, “brings to Yahoo! a proven record of building on a solid foundation of existing assets and resources to reignite innovation and drive growth, precisely the formula we need at Yahoo!”

Thompson said he was enthusiastic about Yahoo!’s “continued user engagement.”

Bostock remarked that Thompson will be coming in as the board continues its “strategic review” of Yahoo!’s future.

Yahoo!’s conference call with Thompson is getting underway right about now, 10 am, Eastern time. You can access the webcast here.

Swisher refers to Thompson as “a genuine Internet geek,” among the “deep bench” of technocrats at eBay.

Swisher also notes that sources tell her the negotiations for a potential tax-free divestiture of Yahoo!’s Asian assets, including Ali Baba Group Holdings, are still ongoing and “look promising.”
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