After Yahoo debacle, Thompson to head ShopRunner
Former Yahoo Inc President Scott Thompson, who was forced to leave the Internet company after a controversy over his resume, has jo ined e- co mmerce sta rt-up Sho pRunner as its chief executive.
Thompson, who had been president of eBay Inc's PayPal business before joining Yahoo, replaces ShopRunner C h ief Executive a nd co-founder Mike Golden, who will stay on as president of ShopRunner, the 22- month-old com pany said on M onday.
While PayPal and ShopRunner are "fundamentally different businesses," Thompson said in a statement that both focus on building a broad network of merchants with a large and loyal customer base.
Michael Rubin, CEO of Kynetic, a majority shareholder of ShopRunner, said he agreed with Golden that it is the "perfect time to bring in Scott, who we have gotten to know extremely well over the past few years."
While president of PayPal, Thompson joined ShopRunner's board of directors, and eBay still owns a minority stake in the business, which operates a shipping service for retailers including Toys R Us, American Eagle Outfitters and PetSmart.
In May, Thompson resigned as Yahoo's CEO after less than 6 months i n the job b ecause of questions about his academic credentials. He re placed the controversial Carol Bartz, who was fired in September after failing to revitalize Yahoo.