The acquisition will add more than 300 products to L’Oreal’s lineup.
Thompson, who takes over as CEO, also worked as president of PayPal.
Online order fulfillment service ShopRunner has hired Scott Thompson as its new chief executive. Thompson replaces co-founder and current CEO Mike Golden; Golden becomes president.
Thompson’s last job was as CEO of Yahoo Inc. He resigned at the request of Yahoo’s board in May, after about four months on the job, after investors questioned whether Thompson lied about his college record.
From 2008 until his move to Yahoo in January, Thompson was president of PayPal, the online payments unit of eBay Inc. While under Thompson’s leadership, both PayPal’s user base and revenue more than doubled. ShopRunner says Thompson’s achievements at PayPal are in line with ShopRunner’s own expansion plans.
“Scott’s deep understanding of online businesses combined with his team building, operational capabilities and focus on product will allow ShopRunner to realize its ultimate potential,” says Michael Rubin, CEO of Kynetic LLC, which owns ShopRunner. Thompson, while at PayPal, also was an early board member of ShopRunner.
“While PayPal and ShopRunner are fundamentally different businesses, there are similarities in each of their success,” Thompson says. “Both companies are focused on building the broadest network of satisfied merchants by providing the value that creates a large and loyal customer community.”
ShopRunner provides consumers with free, two-day shipping on orders placed with participating merchants. Retailers that participate in ShopRunner include Toys ‘R’ Us Inc., No. 29 in the Internet Retailer Top 500 Guide, The Sports Authority Inc. (No. 230), General Nutrition Centers Inc. (No. 203), and PetSmart Inc. (No. 315).