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CEO of Yahoo! steps down

Posted on Monday, May 14th, 2012 at 1:45 pm    

The CEO of Yahoo!, Scott Thompson, has recently stepped down after misrepresentations were discovered in his credentials. The head of global media, Ross Levinsohn, has stepped in as interim CEO.

Thompson had claimed to hold a bachelor’s degree in accounting and computer science from Stonehill College, but only has been awarded a degree in accounting degree from the school in Easton, Mass. The incorrect information was on the company’s website as well as Yahoo’s 10-K filing.

Thompson was brought in by Yahoo company in January to help the company compete with Google Inc. and Facebook Inc.

Officials have stated that the company will revamp its board and management structure. Daniel Loeb, an advocate for the management overhaul and the one who raised concern over Thompson’s qualifications, has been appointed to the board along with two other directors from Third Point, LLC.

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