Yahoo chief Scott Thompson steps down over fake college degree row
Yahoo Inc Chief Executive Scott Thompson has stepped down after a controversy over a fake computer science college degree on his biography, the third CEO in three years to leave the Internet company struggling to define its future.
The departure is a victory for hedge fund manager Daniel Loeb of Third Point LLC, which is one of Yahoo's largest outside shareholders and brought the discrepancy in Thompson's educational background to light.
Yahoo said in a statement that its global media head, Ross Levinsohn, will be interim CEO, replacing Thompson who has left the company. It did not give a reason for his exit but said the board had settled a proxy battle with Third Point and will nominate three of its slate of four candidates to Yahoo's board.
Yahoo Inc Chief Executive Scott Thompson has stepped down after a controversy over a fake computer science college degree on his biography, the third CEO in three years to leave the Internet company struggling to define its future.
The departure is a victory for hedge fund manager Daniel Loeb of Third Point LLC, which is one of Yahoo's largest outside shareholders and brought the discrepancy in Thompson's educational background to light.
Yahoo said in a statement that its global media head, Ross Levinsohn, will be interim CEO, replacing Thompson who has left the company. It did not give a reason for his exit but said the board had settled a proxy battle with Third Point and will nominate three of its slate of four candidates to Yahoo's board.
No comments:
Post a Comment