Did Yahoo's Thompson Fudge Resume?
Poor Yahoo. Whenever you think it can’t worse for the once-reigning Web portal, it does. The latest issue comes courtesy of CEO Scott Thompson, who has reportedly come up under fire for telling the SEC -- and Yahoo's board -- that he had a computer science degree from Stonehill College. Unfortunately, according to Business Insider, “He does not have one.” Yahoo says it was “an inadvertent mistake.” That, according to BI, “is an outrageous and insufficient response.”
Leading the charge against Thompson is Dan Loeb, a Yahoo shareholder and hedge fund manager of Third Point who is also in the middle of a proxy war against the company. In a leter sent to Yahoo’s board on Thursday, Loeb wrote: “If misrepresentations were made, they would confirm yet again that Yahoo is in dire need of a complete corporate governance overhaul. As we have asserted repeatedly and forcefully, as Yahoo’s largest outside shareholder and a voice for our fellow investors, we believe the Yahoo Board requires fresh, outside perspectives from individuals who have no connection to a failed regime and have the expertise to address the serious challenges facing the Company. ”