US web portal Yahoo has named Scott Thompson, the president of online payments firm Paypal, as its new head

(See BBC News): US web portal Yahoo has named Scott Thompson, the president of online payments firm Paypal, as its new head.

He will fill the vacancy left by Carol Bartz, who was dismissed as chief executive in September after failing to turn around the company's fortunes.

Mr Thompson has headed Paypal, the payments division of eBay, since 2008, during which time its userbase doubled.

Yahoo is currently undergoing a strategic review as it has failed to keep up with rivals such as Google.

SEE BBC NEWS: http://www.bbc.co.uk/news/business-16414704