After a thorough search, Scott Thompson was named as Yahoo!’s CEO in early 2012. Prior to his appointment at Yahoo!, Thompson was president of PayPal and prior to that was PayPal’s chief technology officer. Thompson replaced Carol Bartz, a well-known computer industry executive, who after two years on the job had been unable to resolve Yahoo!’s troubles. In his first months on the job, Thompson formulated a strategic plan for turning around the company, including a massive layoff of employees.