Yahoo! – one of the longest-running places for running online search engine marketing initiatives – has finally appointed a new CEO, having previously sacked Carol Bartz back in September, according to an article published by ClickZ.

Scott Thompson, the former president at PayPal, will take the role. The move will see Tim Morse, who acted as CEO during the search for Bartz’s replacement, resume his previous role as chief financial officer.

Speaking during a conference call, Thompson stated that his previous experiences with PayPal – in maintaining a fine balance between the needs of customers and merchants – would be key to his new position.

He said: “We need that at Yahoo! – balancing value between consumer experience and the advertisers.”

Providing a possible insight into the areas that could provide Yahoo! with the best opportunities, Thompson revealed: “Data is a very hard concept to understand unless you’re in the middle of it. There’s tremendous value if you can organise and interrogate data at the scale Yahoo! has.”

Yahoo! recently revealed a revenue of $1.1 billion for the third quarter of 2011 – a decline of 5 per cent when compared to the same period of 2010.

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