Yahoo's Thompson Alledgedly Padded His Resume
Yahoo's board says it will "review" allegations that CEO Scott Thompson misled people into believing he had a degree in computer science when he doesn't. Analysts say if the accusation proves true, the companys board may have no choice but to let him go. The accusation was made in a letter to the company's board by Dan Loeb, an investor who's been vocal in his discontent with Yahoo's board and Thompson's strategy. Loeb contends that Thompson claims a bachelor's degree in accounting and computer science, when in fact his degree is in accounting only. Thompson graduated from Stonehill College near Boston. Loeb has demanded that Yahoo fire Thompson by Monday. In Business Insider, blogger Nicholas Carlson says Yahoo's claim that Thompson made an "inadvertent error"doesn't square with his using the same bio when he was president of PayPal. At All Things D, Kara Swisher points out that the allegations could be serious in terms of compliance with securities regulations since Yahoo included Thompson's credentials in filings with the SEC. Yahoo also said the mistake "in no way alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies." This is just the latest in a string of unsettling news for the company, including significant layoffs in March, the resignation of founder Jerry Yang (which some saw as a good thing), and the firing of former CEO Carol Bartz in September. Side note: What was Loeb's reaction when he made the discovery? The blog #WheninFinance has an idea, courtesy of Business Insider Updated 3:30 ET to add the Yahoo board's intention to review the allegations and Loeb's demand for Thompson's ouster.