Update: It's official. Yahoo just announced Scott Thompson as CEO.

Original: Yahoo is close to hiring Scott Thompson, the President of PayPal, as its CEO, Kara Swisher at All Things D reports.



Thompson is a totally unexpected choice. This is the first we've heard of him, and it's the first Swisher had heard of him.



He's been president of PayPal since 2008. Before being promoted to president, he was CTO, "where he oversaw information technology, product development and architecture for PayPal," according to his PayPal bio. So, he's got the technical chops.

And he has experience working in a somewhat difficult public company environment. (PayPal is one of those companies held back by its parent, eBay)



But does he have the vision? Yahoo has been falling behind its fellow Silicon Valley tech rivals. Thompson has to come in with a clear turnaround plan and execute.

Also of note, he has zero experience in media or advertising, which are (last we checked) Yahoo's businesses.