NEW YORK (CNNMoney) -- After a scandalous exit from Yahoo, Scott Thompson has landed on his feet as the CEO of ShopRunner.
The two-year old online shopping service announced Monday that Thompson will take the company's reins, and its co-founder and existing CEO Mike Golden will stay on as president.
Thompson had already been a part of ShopRunner, having joined its board when he was president of eBay (Fortune 500) subsidiary PayPal.,
"Joining ShopRunner is a tremendous opportunity to build on the strong foundation that the company has already established," Thompson said in a statement. "While PayPal and ShopRunner are fundamentally different businesses, there are similarities in each of their success."
The startup partners with more than 60 online retailers. For a monthly fee, ShopRunner subscribers can get free two-day shipping and discounts to a list of stores that includes a handful of big names, including Toys R US and PetSmart (Fortune 500).,
Thompson left Yahoo (Fortune 500) in May, just four months into his tenure. His departure came amid a firestorm over the discovery that his official Yahoo bio embellished his academic credentials, claiming a dual degree in "accounting and computer science." Thompson's actual degree is only in accounting.,
At ShopRunner, Thompson gets a fresh start with a company he helped guide from its infancy. Co-founder Mike Golden said in a statement that Thompson had "an immediate understanding of the potential impact of ShopRunner," and he felt Thompson would be "the perfect long-term CEO."
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