Yahoo! CEO steps down over phony CV

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Yahoo! CEO steps down over phony CV

Postby sledge » Tue May 15, 2012 8:10 am

Yahoo CEO busted!

Yahoo! chief executive Scott Thompson has stepped down in the face of controversy about his allegedly inflated CV.

The California-based company created a special committee last week to look into a charge levelled by activist investor Daniel Loeb that Mr Thompson misstated academic credentials by claiming on his CV a computer science degree that he never earned.

Amid stepped-up pressure from Mr Loeb's hedge fund Third Point - a major investor in Yahoo! - the Yahoo! board announced the committee would review Mr Thompson's academic background as well as how much was known by those who hired him.

Mr Thompson will be temporarily replaced by Ross Levinsohn.

The California-based company, in a compromise with Mr Loeb, said Fred Amoroso would take charge of the board of directors as the struggling internet pioneer seeks its sixth new chief in as many years.

"Yahoo! has been struggling over recent years and this new incident only makes matters worse for the company," said technology industry analyst Jeff Kagan.

"Yahoo! rode the wave up during the last decade, but during the last several years has crossed over the top and has been heading down the other side."

The changes to Yahoo!'s board are part of a settlement with Third Point, which is waging a proxy battle with the internet firm.

Under the terms of the truce, Mr Loeb and two of his picks - Harry Wilson and Michael Wolf - will take seats on the Yahoo! board on Wednesday.

Five current board members, including director Roy Bostock and Patti Hart, will step down immediately and not end their terms at this year's annual shareholders meeting as originally planned, according to Yahoo!

"The board is pleased to announce these changes and the settlement with Third Point, and is confident that they will serve the best interests of our shareholders," Mr Amoroso said in a statement.

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Re: Yahoo! CEO steps down over phony CV

Postby Brian » Thu May 17, 2012 10:21 am

Granted, lying on your CV isn't ethical behavior, by any stretch, but does the CEO really need to know how to program?
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About the things you could not show her."

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Re: Yahoo! CEO steps down over phony CV

Postby silverpop » Thu May 17, 2012 6:26 pm

like any biz you have to know the basics and he had no clue on the basics and ran yahoo blindly for sometime before his background came to light, honestly if one is going to run a biz at least know the basics about the company

running companies blindly is never a good idea to try in the long run it will catch up with you
expect the unexpected

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Re: Yahoo! CEO steps down over phony CV

Postby Brian » Thu May 17, 2012 7:22 pm

silverpop wrote:like any biz you have to know the basics and he had no clue on the basics and ran yahoo blindly for sometime before his background came to light, honestly if one is going to run a biz at least know the basics about the company

running companies blindly is never a good idea to try in the long run it will catch up with you


Well, sure, if you don't know the basics, it's not going to work, but I was kind of wondering about the CS degree specifically. I mean, I've never taken a CS course, but I know how search engines work, the basics of SEO, etc.

From what I've been reading, the padding on his resume was just the excuse they used to boot his ass.
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About the things you could not show her."

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Re: Yahoo! CEO steps down over phony CV

Postby sledge » Wed May 23, 2012 5:47 am

Possibly that wanted to get rid of him? :scratch:
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