Yahoo Forms Committee To Probe CEO Hiring
Yahoo today formally announced forming a special committee to conduct a review of CEO Scott Thompson’s academic credentials along with the facts and circumstances related to his hiring. Last Thursday Yahoo confirmed Thompson’s official bio and company regulatory filings misrepresented his educational background to include a computer science degree.
The inaccuracy was exposed by major Yahoo shareholder and activist investor Daniel Loeb of hedge fund Third Point LLC. Loeb has called for Thompson’s firing over the matter and yesterday demanded Yahoo open up its records tied to his hiring. Thompson himself apologized to Yahoo employees in a memo over the resume furor but failed to provide any explanation for the academic padding that has appeared periodically in his bio for the last decade.
Leading the Yahoo board committee investigating Thompson’s hiring is Fred Amoroso, joined by fellow independent directors John Hayes and Thomas McInerney. The committee has retained as independent counsel Terry Bird of the law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg in Los Angeles.
Patti Hart, the outside board member who led the CEO search that led to Thompson's hiring is resigning, according to an AllThingsD report earlier today. Hart, who is CEO of International Game Technology, will not stand for re-election to the Yahoo board at the next annual meeting, according to souces cited close to the situation.
Recent Raw Articles
-
Report: Yahoo Formally Bids On Hulu May 24, 3:38 p.m.
Yahoo has submitted a formal bid to acquire Hulu, according to a Reuters report citing two ...
-
Pandora Beats Q1 Revenue Estimate May 23, 5:22 p.m.
Online radio service Pandora on Thursday reported revenue rose 55% in the first quarter to $126 ...
-
Digital Diva Bradford To Helm S.F. Chronicle May 23, 4:41 p.m.
Digital media sales vet Joanne Bradford Joins has joined Hearst's San Francisco Chronicle as president. She ...
-
Y&R, 90 Years Young, Digitally Celebrates In Times Square Today May 23, 1:03 p.m.
A 90-year old ad agency is using some new-fangled technology to celebrate today in real time ...
-
Opera Extends Ad Tools To Connected TV May 22, 1:23 p.m.
After tackling the desktop, and then mobile, Opera lately has been expanding into the emerging realm ...
-
Former NBC Sales Chief Gambelli Succeeds Cohen As Horizon's Chief Investment Officer May 21, 3:19 p.m.
Former NBC sales chief Marianne Gambelli is joining Horizon Media as executive vice president-Chief Investment Officer, ...
-
Fidelity Turns ATM Into Dance Machine May 21, 2:27 p.m.
Who says Fidelity isn’t fun? Speaking at OMMA Social, the investment firm’s digital marketing head Chris ...
-
Outdoor Industry Launches 'Commercial Ratings' Initiative, Will Measure Eyes On Digital Ads May 21, 10:36 a.m.
The out-of-home media industry is poised to begin developing new research to develop "commercial ratings" for ...
-
Yahoo Confirms Tumblr Acquisition For $1.1 Billion May 20, 8:42 a.m.
Yahoo on Monday confirmed it will buy blogging service Tumblr for $1.1 billion in cash. The ...
-
Yahoo Adds Tweets To News Feed May 16, 1:25 p.m.
Yahoo will incorporate selected tweets into the news feed on its redesigned home page through a ...
Be the first to comment on "Yahoo Forms Committee To Probe CEO Hiring"
Leave a Comment