Recently ousted Yahoo CEO Scott Thompson has landed a new job leading ShopRunner, an online service that provides two-day shipping from a variety of internet retailers.
Monday's announcement of Thompson's appointment as ShopRunner's new CEO comes two months after his short-lived tenure at Yahoo Inc came to a mortifying end.
Yahoo shoved aside Thompson, 54, after a dissident shareholder uncovered misinformation in his official biography filed with the Securities and Exchange Commission. The bio listed a bachelor's degree in computer science that he never received, raising doubts about Thompson's integrity that led to his departure after just four months on the job.
Yahoo last week replaced Thompson, hiring long-time Google executive Marissa Mayer as its fifth CEO in the past five years. Another Yahoo executive, Ross Levinsohn, had been filling in as interim CEO.
ShopRunner evidently had no qualms about Thompson's troubles at Yahoo. Michael Golden, who had been ShopRunner's CEO and is staying on as the service's president, hailed Thompson as "the perfect long-term CEO".
In his new job, Thompson will be running a privately held company with connections to one of his former employers, eBay. Thompson led eBay's online payment service, PayPal, before defecting to Yahoo at the beginning of the year.
ShopRunner began as part of GSI Commerce, which eBay bought for $US2.4 billion ($A2.3 billion) last year. After that deal closed, eBay spun off ShopRunner into another company but still retains a 30 per cent stake in the service.
The new job appears to be major step down for Thompson. As CEO of Yahoo, he was being paid a $US1 million salary with an annual bonus of up to $US2 million while overseeing a famous internet company with $US5 billion in annual revenue.
ShopRunner, in contrast, is a two-year-old service still trying to establish itself as part of a small, privately held company called Kynetic that's owned by GSI founder Michael Rubin. Kynetic also controls two other e-commerce services, Fanatics and Rue La La, that were spun out of GSI after last year's eBay acquisition.
"Joining ShopRunner is a tremendous opportunity to build on the strong foundation that the company has already established," Thompson said in a statement.