Struggling internet company Yahoo! has appointed the president of PayPal, Scott Thompson, as its new CEO, replacing the ousted Carol Bartz.
The former internet giant is being eaten alive by two upstarts, Google and Facebook with fickle advertisers jumping ship.
Carol Bartz has been fired over the phone by Roy Bostock, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba.
