Yahoo board to 'review' discrepancy in CEO's resume
Yahoo acknowledged earlier on Thursday that its CEO's resume overstated his technology background
IDG News Service - Yahoo said late Thursday that its board will review a discrepancy in the resume of its CEO, Scott Thompson, and "make an appropriate disclosure" to its shareholders.
Thompson's resume and the company's regulatory filings overstated his technology background to include a degree in computer science. The company said it was the result of "an inadvertent error."
Activist shareholder Daniel Loeb, who leads Third Point investment fund, wrote Thursday to the Securities and Exchange Commission, charging that Thompson's resume had been embellished.
Loeb is campaigning to have Yahoo appoint candidates he has proposed, including himself, to its board of directors, a move opposed by Thompson, who has his own candidates.
Thompson received a bachelor of science degree in business administration with a major in accounting from Stonehill College in Easton, Mass., and there was an inadvertent error that stated that he also holds a degree in computer science, Yahoo said earlier on Thursday.
"This in no way alters that fact that Mr. Thompson is a highly qualified executive with a successful track record leading large consumer technology companies," the company added.
It followed up with a statement later in the evening that Yahoo's board will be "reviewing this matter, and upon completion of its review, will make an appropriate disclosure to shareholders." The company did not provide a time-frame for the review.
[Cameron Scott in San Francisco contributed to this report]
- Whitepaper: Workday User Experience Read the whitepaper to find out how the Workday user experience is singularly focused on extending access to every user while ensuring simplicity...
- Whitepaper: The Real SaaS Manifesto This whitepaper defines the key terms every company should know, understand, and evaluate when considering a SaaS vendor for their business.
- Whitepaper: Real CIOs of the Cloud As cloud computing becomes the dominant technology of this decade, today's CIOs are the catalysts for change. This whitepaper published by Techweb features...
- Why You Need a Next-Generation Firewall This white paper explores the reasons for implementing next-generation (NG) firewalls and lays out a path to success for overburdened IT organizations.
- Delivering Events of Olympic Proportions Akamai was selected to provide online video streaming delivery, site performance, and security services to NBC Olympics during its production of the 2014...
- Online Video and Web Traffic: Sochi 2014 Winter Olympic Games Over 25 leading global broadcasters worked with Akamai to deliver the action, excitement and inspiration of Sochi because they understand online viewers expect... All IT Leadership White Papers | Webcasts