Say hello to the new generation of leadership at Yahoo! His name is Scott Thompson.

Does the name sound familiar? It might, because Scott Thompson was once the president of PayPal. Part of the reason why Yahoo decided to snatch up this guy in the first place was that they say he was responsible (at least in part) for doubling PayPal's active user base from 50 million to 104 million. That's a pretty big deal, especially since Yahoo's user base is probably going in the other direction.

On the financial side, Yahoo saw a 5 percent decline for its overall revenue in the third quarter 2011 (compared to the same time the year before) to $1.1 billion. Sadly, the net earnings dropped a much larger 26 percent year-over-year to $396 million. That's not good and the financial savviness of Thompson could turn that ship around. At least, that's what they hope.

According to Search Engine Watch, the focus is to "quickly evaluate its sprawling products and kick them into shape to boost appeal to suitors and investors." Thompson says that they need to balance "value between consumer experience and the advertisers."

Yes, it's true that Yahoo is still relevant in some parts of the world, but Thompson certainly has a huge task ahead of him. If you were hired as the new CEO of Yahoo, what would be your strategy moving forward?