Yahoo board to examine CEO’s credentials following “inadvertent error”


Yahoo’s board of directors will  be reviewing the academic qualifications of CEO Scott Thompson after the founder of hedge fund Third Point, Daniel Loeb, accused Thompson of padding his qualifications.

Yesterday Loeb wrote a letter to Yahoo’s board saying that current CEO Thompson “embellished his academic credentials” by claiming to hold bachelor’s degrees in computer science and accounting when the only degree he possesses is a Bachelor’s of Science in Business Administration (Accounting).

A Yahoo spokesman confirmed that Thompson had, until recently, a computer science degree listed in his Yahoo bio (and in the company’s SEC filings), calling it an “inadvertent error.” In a statement related to the matter the spokesman said, “Scott Thompson’s degree at Stonehill College was in bachelor science in accounting. There was an inadvertent error that stated Mr. Thompson also holds a degree in computer science. This, in no way, alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies. Under Mr. Thompson’s leadership, Yahoo! is moving forward to grow the company and drive shareholder value.”

Yahoo later issued a statement saying, “In connection with the statement the company made earlier today about Scott Thompson, the Yahoo! board will be reviewing this matter, and upon completion of its review, will make an appropriate disclosure to shareholders.”

Third Point is presently attempting to gain a seat on the board at Yahoo.

Source: AllThingsD


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