Yahoo, which in 2011 re-branded itself as the “premiere digital media company,” has hired a product manager to be its CEO, not a media or advertising executive.
During his first call with analysts and investors as Yahoo CEO – just moments ago – Scott Thompson freely admitted that he knows little about the business that makes Yahoo most of its money, display advertising.
The former president of PayPal said: “it’s too early for me to have any informed opinion on the display space and what’s happening there and what’s happening next.”
After that concession, Thompson said he thought Yahoo’s massive store of data would prove to be an asset in the advertising business.
Later on in the call, Thompson said that if Yahoo built “great experiences” for users, it would be able to make money through advertising.
We’ve asked Yahoo for an interview with Thompson. They’ve told us they’d like to make it happen.