Scott Thompson

Will Scott Thomson put this on his resume?

The embattled Yahoo CEO is officially out, according to an announcement from the company this afternoon following an uproar over his false claim that he had a computer science degree. The announcement confirms a report earlier today by Kara Swisher of AllThingsD.

Yahoo executive Ross Levinsohn will serve as interim CEO. Yahoo board member Fred Amoroso, who led the board’s investigation into Thompson’s resume, will become chairman. Yahoo simultaneously settled an impending proxy fight over the issue with investor Third Point LLC, which will get three seats on the board.

Watching with more than a casual degree of interest is Microsoft, which is partnering with Yahoo in Internet search and ads, attempting to compete with Google.

One question is whether a new Yahoo CEO, whoever it ends up being, might be more willing to sell those portions of its business outright, if Microsoft is interested in owning them.

In the past, people floated as potential candidates for the Yahoo job included former aQuantive CEO and Microsoft VP Brian McAndrews; and former Microsoft CFO Chris Liddell.

Comments

  • Guest

    It’s emblematic of this board that they’re letting Thompson resign “for personal reasons” instead of forcing him to admit he lied or firing him for cause. Do they really think nobody is going to look further into their own culpability in not screening his credentials adequately?

    Kudos to Loeb for taking a a CEO and board who thought they’re weren’t accountable to shareholders and showing both how wrong they were. Too bad Loeb doesn’t own any Microsoft stock. There’s another board that’s way overdue for a wake up call.

  • http://www.facebook.com/profile.php?id=33567 Nikesh Parekh

    I understand the issue over ethics with Thompson’s resume.  Given the financial situation and strategic challenges at Yahoo, the Board should have just backed their decision with Thompson and let the guy execute.  Yes, a mistake was made.  I doubt this was maliciously done.  Thompson did the right things coming into Yahoo, cutting staff and shutting down projects to drive greater focus.  Too bad the Board gave into the Loeb’s shareholder activism when they really did not need to.  

    Many times in life, you need to make a bet and then let the bet ride out instead of second guessing yourself halfway through the hand.  Call me crazy.

  • MagBill

    “It’s emblematic of this board that they’re letting Thompson resign “for
    personal reasons” instead of forcing him to admit he lied or firing him
    for cause.”

    It’s emblamatic of nothing. Most other boards would have done the same, as firing for cause triggers all kinds of legal complications, plus the definition of “cause” at this level is usually a function of the employment contract and can vary widely. The last thing a public company wants is for these things to drag out even further.

    “Do they really think nobody is going to look further into
    their own culpability in not screening his credentials adequately?”

    They are 100% aware of that; it has nothing to do with your first point. Everyone – everyone – understands Thompson was forced out.

    • Guest

      There are legal implications either way. The difference is that by telling the truth, Yahoo had an opportunity to demonstrate that it was no longer business as usual there.

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