AllThingsD‘s
Kara Swisher is reporting that Yahoo’s board will announce the
departure of its CEO, Scott Thompson after a computer science degree
that was mentioned in his bio turned out to be a false claim. Thompson
was appointed as the CEO in January this year and came from PayPal,
where he had served as the company’s president.Shockingly, Thompson’s bio had carried the computer science degree for years even on his PayPal bio page as well as other companies where he served in different capacities. When pointed out by activist investor, Daniel Loeb of Third Point, Thompson reportedly denied knowing about the inclusion of the degree in his bio and claimed it was an “inadvertent error” induced by a recruitment agency when he was being hired by eBay in mid-2000s. The recruitment agency, however, claims the degree was mentioned in the resume provided by him.
Whatever the case maybe, Yahoo will now have to look for a new CEO. Swisher is claiming Yahoo’s global media head, Ross Levinsohn, will serve as the CEO on an interim basis. The five current directors on Yahoo’s board are also set to step down immediately as a result of the screw-up in hiring the company’s CEO.
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