BETA
This is a BETA experience. You may opt-out by clicking here

More From Forbes

Edit Story

New Yahoo CEO Scott Thompson: 'We'll Be Back to Innovation'

This article is more than 10 years old.

Scott Thompson. Image via CrunchBase

Who will own Yahoo a year from now? Will its workforce be dramatically smaller? Scott Thompson didn't answer these questions in his first conference call as CEO of the online media giant, but he did offer investors a sense of where his priorities lie and how he hopes to compete with the likes of Google and Facebook.

Analysts on the call were quick to note that Thompson, the former president of eBay's PayPal subsidiary, comes from a background in information technology, not media or advertising. Thompson didn't shy away from the implications of that, emphasizing technology and data as the strengths that will lead Yahoo to future greatness.

"The data these internet businesses create, the ability to use analytical technology to build a better businesses for your customers...I feel certain that wealth of data's going to be exploitable for next generation products, next generation experiences," he said. "My instinct says down in that data we're going to be able to find ways to compete and innovate that the world hasn't seen yet."

While he did talk about "consumer needs and experiences," he did so in the context of underscoring the need to balance them with the needs of advertisers. Thompson was all but silent on the topics of journalism and entertainment, two areas where Yahoo, under his predecessor, Carol Bartz, invested millions in the hopes of deepening user engagement with original content. Contrast that with his counterpart, AOL CEO Tim Armstrong, who has frequently paid lip service to the primacy of "great journalism" in his company's mission.

The ultimate goal, said Thompson, is "to return this business to being one of those great iconic brands."

"We'll be back to innovation, we'll be back to disruptive concepts," he added. "I wouldn't be here if I didn't believe that was possible."

Meanwhile, Yahoo chairman Roy Bostock fielded all the questions about the ongoing strategic review of Yahoo's assets and ownership structure, promising that the leadership change will cause "no slowdown and no delay whatsoever."

To one analyst's question about whether Yahoo might make more sense as a private company, Bostock gave an unequivocal answer. "We are a public company. I do not envision us not being a public company going forward," he said. "We're a company with a roughly $20 billion market cap. Just in a practical way, if you and I were to sit down tomorrow and say, 'Let's take this company private,' I think we'd have one hell of a challenge to do that. It has not been on the radar screen or in the consideration set. It's been kind of a moot issue, frankly, from my point of view."

As my colleague Eric Savitz points out, Yahoo investors seem to have been hoping for a different type of news. Shares are down 2% in trading today.